News & Events
4 September 2006
Aussie firm eyes POIC Lahad Datu for biofuel venture
Australia-based Vantage Biofuels Pte Ltd has identified the palm oil industrial cluster in Lahad Datu (POIC Lahad Datu) as a potential site for a 250,000 tonnes per year biodiesel plant.
Two founding directors of the New South Wales-based company, Mr Richard Barker and Mr Phil Miller, visited POIC Sabah Sdn Bhd on Sept 4 2006 for an in-depth look at the cluster currently being developed in Lahad Datu, in southeastern Sabah. They were given a detailed briefing on the development objectives and progress of POIC Lahad Datu by Dr Pang Teck Wai, the CEO of POIC Sabah Sdn Bhd.
According to Mr Barker, Vantage Biofuels has yet to make a final decision on the plant location, but have short listed Indonesia, Singapore and POIC Lahad Datu.
"The vision and commitment being shown by the Malaysian government for POIC Sabah as well as its logistical and proximity benefits positions it as a highly favoured option for the Vantage Biofuels' plant location," he said. "For ease of doing business and logistical reasons our preference is for Malaysia (either Kuantan Port of POIC Lahad Datu).
Vantage Biofuels is exploring the possibility of acquiring an initial 12 acres of land at POIC Lahad Datu. If all goes well, it expects to establish a plant in 2007 to produce 250,000 tonnes of biodiesel per year. The capacity will be doubled in 2008/9, and further to one million tonnes in 2010/11."
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