German company to build biodiesel process plant in Singapore

German company Peter Cremer will build a large biodiesel process plant on Singapore's Jurong Island, the state's biochemical hub, Channel NewsAsia report said Monday.

A project of 24 million Singapore dollars (about 15 million U.S. dollars), the facility is expected to produce a maximum of 200,000 tons of biodiesel annually from palm oil upon its completion by June next year, which will account for some 50 percent of the company's worldwide output.

Biofuel has been increasingly recognized as a viable alternative energy worldwide as petroleum prices are on the rise in recent years.

Source: Xinhua

People's Daily Online ---