Neste Oil, Stora Enso in 50-50 biofuel jv |
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Published
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Fri, 16 Mar 2007 08:29
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HELSINKI (AFX) - Neste Oil and Stora Enso said they plan to build and jointly operate a 14 mln eur wood-based biofuel plant at the latter's Varkaus paper mill in Finland.The two companies said the 50-50 owned mill, expected to start up next year, would serve as a pilot project ahead of the launch of a full-scale biofuel production plant at one of Stora Enso's mills.The sum they would expect to spend on constructing the larger plant was not revealed.Under the plan, Stora Enso will utilise the heat and electricity produced at the plants, with Neste Oil refining the biofuel into commercial fuel at its refinery in Porvoo.james.etheridge@thomson.comje/jlwCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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