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The investor from China plans to build the production of bio-fuel plant in Finland

23.02.2016 Category: World

The Chinese company Sunshine Kaidi New Energy Group plans to invest one billion dollars into the construction in Finland city Kemi the venture for the production of gasoline and diesel fuel from wood.

It is planned to produce about 200 thousand tons of biofuel per year, of which 75% is % of diesel fuel and 25% is gasoline. From Kemi, which is located near the port in the Baltic Sea, biological fuel will be supplied in almost all European countries. Finland has large volumes of timber and forestry industry in this country is being reduced. For this reason the Chinese company chose Finland.

Chinese company Kaidi currently owns a biodiesel pilot plant in the Chinese city of Wuhan, and will make a final decision on the establishment of production in Finland by the end of this year.

Similar attempts by other companies did not bring the desired success. For example, in the US, the firm KiOR, which planned to produce biofuels through pyrolysis, closed due to bankruptcy. Given the decline in oil prices and suspend economic growth in China, a major new investments can not be recouped. And that is why Chinese investors are pinning their hopes on the demand for biofuels in Europe more than in the US. In 2015, the EU set out to produce 0.5% of biofuel of the total fuel with regards to the modern methods.