19/6/6 9The Star)  -  A British-Malaysian joint-venture will see the setting of a RM140mil biodiesel plant at the palm oil industrial cluster (POIC) in the Sabah east co-ast district of Lahad Datu.

The agreement for the setting up of the biodiesel plant came following two days of intensive discussions between officials of Kuala Lumpur-based Zurex Corporation Sdn Bhd and Biofutures International PLC (BI) of the United Kingdom and state owned POIC Sdn Bhd.

The biodiesel plant is to be set up at the POIC, officials of the three companies told state Industrial Development Minister Datuk Ewon Ebin when they paid him a courtesy call on Tuesday. 

The JV company received its bio-diesel manufacturing licence from the Ministry of International Trade and Industry last month.
 
Gee (third from left) and officials of BI and Zurex Corporation Sdn Bhd with Ewon (left) and POIC Sabah Sdn Bhd CEO Dr.Pang Teck Wai (right) during the courtesy call in Kota Kinabalu recently.
The visitors, led by BI Chairman Nicholas Gee and Executive Director Iain Young, told Ewon they planned to submit development plans for the site within the next few months. 

The plant, which will use tested German technology, will have an installed capacity of 200,000 metric tonnes per year. 

It is also expected to produce a substantial quantity of glycerine, a valuable by-product used in soaps, cosmetic products and many other industrial applications.

When in full operation, the plant is expected to employ about 60 workers.

The funding for the project is expected to be raised through a public offer of Bio Futures International’s shares in the London Stock Ex-change, Ewon was told.