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Russian Titan To Build $270 Mln Bioethanol Complex

Energy and Commodities Digest
© 2007 AII Data Processing Ltd. All Rights Reserved.

Russian Titan group of companies will invest 7.0 bln Russian roubles ($273 mln/200 mln euro) in the construction of a bioethanol production complex in the republic of Adygea, southern Russia.

The company signed an investments agreement on the project with the republic's authorities at the St. Petersburg International Economic Forum in June 2007.

The complex will include several production facilities. Construction works are planned to begin in March 2008 and to last a year and a half.

Titan group incorporates 20 enterprises specialising mainly in timber processing. The group is also active in the fields of tourism, trade, hotel and restaurant management, and securities, according to the company website (www.titangroup.ru)

(Editor's note: Titan may design a bioethanol production project for Colombia, the Colombian Ambassador to Russia Diego Tobol said, as quoted by the Energy and Commodities Digest on July 3, 2007.)

www.rccnews.ru, http://www.aiidatapro.com

Date:  27.08.2007

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