State-run Hellenic Petroleum S.A. announced today to the Athens Exchange (ATHEX) an agreement whereby the company will take a 25% stake in BIODIESEL S.A., which is to build a biodiesel plant in Greece. With an annual capacity of 100,000 tonnes, the plant will meet the needs of the Greek market while also exporting to other countries. Besides Hellenic Petroleum, Viohalco S.A., Hellenic Fabrics S.A. and Prima Holdings S.A. will participate in Biodiesel with an equal share of 25% each.
The plant will be built on the site of the Viohalco Group's SOVEL plant at Almiros in the Magnesia prefecture. The EUR 20 million investment involves the creation of a vegetable oil refinery with a capacity of 300 tonnes a day, a glycerine distillation plant, a biodiesel transesterification plant and ancillary installations (steam generators, biological treatment, etc.).
Through its participation in this project, Hellenic Petroleum is showing practical support for sustainable development in the framework of its environmental policy. In addition, the company's management noted that the agreement is part of the Group's development plan to increase the proportion of renewable energy sources (RES) in its energy balance.
Source: Hellenic Petroleum S.A.
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