BKZ bio-ethanol plans a €377 cooperative

Recycling

Swedish-owned BKZ Beruházásfejlesztő Zrt, a subsidiary of Europe's leading bio-ethanol trader Svensk Etanolkemi AB, is planning to launch a Euro 377 million project in cooperation with EBP Európai Bioenergia Zrt that will create bio-ethanol plants in Gönyü near Győr, Marcali and Mohács in southwestern Hungary, and Kaba, eastern Hungary. In the fall of 2008, the plants will start to produce a total of 600 million liters of this environment-friendly fuel additive per year plus 400,000 tons of high-quality livestock feed as a by-product from 1.5 million tons of grain, BKZ President László Zsemberi said. While legal obstacles for the manufacturing and trade of the E85 bio-ethanol/fossil fuel mixture will be removed by the fall of 2006, and a higher excise tax is to apply to fossil fuels from 2007 and 2008, there is a concern that without additional subsidies the E85 may not be competitive against traditional motor fuels, according to business daily Világgazdaság.

ADVERTISEMENT

Varga puts 2021 GDP growth at 7-7.5% Analysis

Varga puts 2021 GDP growth at 7-7.5%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.