China’s Zhuoyue to build biofuel plant in Thailand: Reports

Chinese biodiesel supplier Zhuoyue New Energy is planning to build a biofuel plant in Chonburi province of Thailand with an investment of $97.6m with planned production capacity of 400,000 tonnes of biofuels.

The company, in the initial phases, plans to build the site with production capacity of 300,000 tonnes of biodiesel. The plant is expected to have construction timeline of 12 months, according to media reports.

However, in the second stage, the company said it will add 100,000 tonnes of additional capacity with the option to switch between hydrotreated vegetable oil or sustainable aviation fuel output.

The company said it has already registered with Chinese government for offshore investment and received approval from Thailand’s board of investment and secured a lease for the site.

Zhuoyue sold 376,000 tons of biodiesel translating into sales revenue of $462m, accounting for about 93% of its total annual revenue – nearly all of it came from exports.

Earlier in July, Zhuoyue New Energy announced that is expanding its global footprint in a strategic move to circumvent impending anti-dumping duties imposed by the European Union.

The company has unveiled plans to establish biofuel refineries in Saudi Arabia and Singapore, focusing on the production of SAF, HVO and biodiesel for marine applications.