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Home / Bioethanol / News Greenfield, PvT Capital sign deal to build ethanol fuel plant in BelarusPrime-TASS Belarus MINSK, May 21 (Prime-Tass)—Ireland's Greenfield Project Management Ltd and Germany's PvT Capital GmbH on May 20 signed a strategic agreement on joint construction of an ethanol fuel production with an annual capacity of 65 million decaliters. PvT Capital GmbH is expected to acquire a stake in Greenfield Project Management Ltd. «We will join the project as an investor and share our solutions and management. The project is part of our expansion strategy,» said PvT Capital COO Christiaan Verbakel. «The merger, which followed the announcement of our plans to channel 65 million euros in the project until the end of the year will enable us to complete design, estimate and construction documentation of the productions in Mozyr and Bobruisk ahead of schedule. Together we will be able to build the first CIS facility to produce a wide range of biofuels,» said Greenfield CEO Michael Rietveld. The joint venture plans to build two units to make ethanol fuel — at the Gomel Region-based Ethanol plant, with a capacity of 10 million decaliters annually, and at Bobruisk hydrolysis plant, with a capacity of 55 million decaliters. Greenfield projects envisage production of biodiesel, bioethanol and biogas, as well as electric power, with minimal soot discharge. The make will be exported to Europe. The new plants will be using biomass from Chernobyl-affected lands. In December 2007, PvT Capital signed an agreement with Ukraine to create a biofuel facility and consequent rehabilitation of a 400,000-hectare land plot. Greenfield Project Management Ltd investment and development company is a special purpose vehicle set up to promote biofuel production in Belarus.
PvT Capital GmbH is among the largest players in the business of fine chemicals and renewable energies (biodiesel, biogas, bioethanol, «green electricity»). The company builds, operates and provides multi-feedstock biodiesel plants around the world, processing virgin vegetable oil, used cooking oil, and animal fats into biodiesel conforming to the EN 14 2 14 quality standards. The company has a $2 billion investment portfolio.
Date: 22.05.2008 Leave your comment
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