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RM1.90 Bln Biodiesel Projects Approved As At June 1, 2006

KUALA LUMPUR, June 7 (Bernama) -- The Government has approved 20 biodiesel projects with investments of RM1.90 billion as at June 1, 2006, says Deputy International Trade and Industry Minister, Datuk Ahmad Husni Hanadzlah.

"Of the amount, RM1.22 billion were domestic investments and the balance of RM687.8 million foreign.

"These projects are in various stages of development and the products have not yet reach the market.

"In 2005, six biodiesel projects with total investments of RM423.5 million were approved," he told reporters after opening PetrolWorld Asia Conference 2006 here Wednesday.

In conjunction with the conference from June 6-8, there will also be a supporting exhibition and business meeting programme.

Ahmad Husni said currently, petroleum products and petrochemical industry in Malaysia contributed total investments of RM55 billion which cover products such as petroleum products, natural gas and petrochemicals.

"The availability of hydrocarbon feedstock from indigenous oil and gas reserves is a major factor which contributed to the development of petrochem industry in Malaysia," he said.

Meanwhile, PetrolWorld founder/president, David Egan, said the conference would serve as an international platform for interaction in Asia on the dynamics of change in petrol retail and fuel distribution.

"The other objective of the event is to discuss the various innovations being made in petroleum retailing and to identify the various opportunities for various stakeholders in meeting consumers' growing demand for a cleaner, more reliable and efficient energy supply," he said.

--Source BERNAMA