28.8.2007

The German Verbio AG (Verbio Vereinigte BioEnergie AG) is exploring the opportunities to invest 100 000 000 euro for the construction of biofuel plant in Bulgaria.

The investment intentions have been claimed today by the company's executive director Klaus Sauter at a meeting with the minister of economy and energy Petar Dimitrov, informs BNR.

Verbio AG is the biggest producer of such fuel in Europe, is said in the statement.

The company is so far looking for the appropriate area for the construction of the plant. Minister Dimitrov has suggested the region of Varna as an option.

The foreign managers expect the plant to be situated close to a harbor. It will produce simultaneously biodiesel and bioethanol.

Most probably the company will apply for a first class investor in Bulgaria. A partner of Verbio AG is “Evroethyl” JSC, which is the first to produce bioethanol in Bulgaria and has a plant near Alfatar, Silistra region.

The minister is well acquainted with the development of the biofuel market, is pointed out in the statement. As a former chairman of the parliamentary budget committee, he was among the promoters of this business in Bulgaria, add from the company.

Petar Dimitrov actively participated and has highly contributed to the introduction of zero rate for biofuel through an amendment in the Law of excise and tax storehouses, continue from Verbio AG.

“Verbio” has several plants for biodiesel and bioethanol in Germany. Their overall production capacity exceeds 700 000 tones per year or 2 100 000 liters per day. of them 400 000 tones are biodiesel and 300 000 tones – bioethanol.

The company is also working in the field of renewable energy sources. It possesses a 120-MW wind-power plant in Germany.

The whole business is united in Verbio Group, where 1000 employees work. The business is estimates at more than 1 bn EUR. The company's shares are traded at the Frankfurt Stock Exchange.

Surce:news.bg