| Norske Skog investment in timber-based biofuel |
| 28/12/2007 - 14:56 |
Norske Skog will, in cooperation with the Norwegian forest owners, establish a joint venture to develop and produce wood-based biofuel (BTL). A prototype facility for biodiesel will be built in connection with Norske Skog Follum at Hønefoss.
The new the company will be jointly owned by Norske Skog (60 per cent) and the forest owner cooperatives (40 per cent), and will be established with equity of NOK 30 million.
Norske Skog aims to establish full-scale biodiesel production. Such a plant will require 1-1.5 million cubic meter of wood per year and will produce 65 000 - 100 000 tonnes of biodiesel, corresponding to 4-6 per cent of Norway's overall consumption of diesel in the transport sector. The long-term objective is to develop a global enterprise in biodiesel production and sale.
The investment in a prototype for biodiesel production at Follum is estimated at NOK 100 - 200 million. Further capitalisation will be decided at a later date.
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| (Norske Skog) |
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