Heaven Petroleum to build 44 Mgy soy biodiesel plant, Peru’s first

Heaven Petroleum, a subsidiary of Hercon Combustibles, will invest $25 million in a 44 Mgy soy-based biodiesel plant in Lurin. The facility will be one of Peru’s first biodiesel plants. The plant’s capacity will replace the country’s Diesel 2 import needs. Completion date for the project was not announced.

Pure Biofuels completed its acquisition late last year of InterPacific Oil’s biodiesel plant. Pure Biofuels will expand the plant’s capacity to 10 Mgy by the end of the year. The plant currently produces 7 Mgy of biodiesel. Pure Biofuel’s total capacity will exceed 60 Mgy when the InterPacific output is combined with the 52.5 Mgy output at a new plant in the Port of Callao, scheduled to open in the first quarter of 2008. Pure Biofuels recently announced the closing of a $30 million round of private financing. The financing will be used to complete its Port of Callao plant. The company also plans feasibility studies for the company’s expansion in palm, jatropha, and canola for Argentina and Peru.

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