Browse
related articles
GBDI has completed construction and commenced production of its 200,000 metric ton (MT) biodiesel facility at Lahad Datu in the state of Sabah, Malaysia.
The company is preparing to commence construction on its phase II facility, which will increase GBDI's biodiesel production capacity to 500,000 MT per annum.
GBD's plant has the ability to use both palm oil and jatropha as feedstock.
GBDI's state-of-the-art facility will produce biodiesel and pharma-grade glycerine under the European Union (EN) and American (ASTM) standards for the Korean as well as global markets. GBD has already signed off-take agreements for all of its production.
Abdulhakeem Kamkar, Chief Executive Officer of Dubai Investment Group, said,
"We are proud to be a strategic partner of GBD Investment. Biofuels and renewable energy are preferred industry focus for Dubai Investment Group, and we intend to bring this technology to the geographic regions, specially Middle East, where we currently have a presence".
Dr. Hwang Jong Sic, Chairman of GBD Investments said, "We are greatly honoured to welcome into our family of investors, the Dubai Investment Group, an esteemed investor who acknowledges the field of "green" energy and is one of the first movers from the Middle East into biofuels technology".
GBDI intends to use the proceeds from the recent placement for working capital in the Lahad Datu biodiesel plant and its investment into jatropha plantations in Philippines.
The plantation, which will cover up to 200,000 hectares, will have a potential annual production of 750,000 tonnes of crude jatropha oil.
Dr. Hwang further added, "With the mandatory blending of biodiesel into petrodiesel imposed by the governments from around the world, GBDI maintains a bullish outlook on the long term viability of the biodiesel market".
Dubai Investment Group is the global financial investor of Dubai Group.
It focuses its investments in the capital markets, real estate and industrial sectors of the world's most promising economies.
Dubai Ventures is the equity investment arm of Dubai Investment Group focussing on investments, public and private, in high growth businesses across globe.
Digg
Facebook
LinkedIn
Twitter
Posted by Eman Hassan
It looks like you are using a Mac - check out our 
Web Feeds