Mission Agro Energy increase stake in Mission Biofuels India to 90 percent

In Mauritius, Mission Agro Energy will increase its stake in Mission Biofuels India to 90 percent, from 70 percent, after buying out Indian Agribusiness Systems. The company, a subsidiary of Mission Biofuels, procures and produces jatropha oil.

Last week in Malaysia, HSBC Bank Malaysia has agreed to provide financing for the $59 million Mission Biofuels biodiesel project that will include two plants in Malaysia.
Last month, Mission Biofuels signed a three-year deal for exclusive rights to jatropha oil produced from 12,500 acres in India. Mission has been in the news of late seeking alternative sources, and also for a biofuels contract with an unnamed major oil producer that failed to close. Jatropha production has been ramping up strongly in India, and the deal by Mission is with an entire district of production.

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