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Győr distillery plans Ft 1 bln expansion

Distillery Győri Szeszgyár és Finomító Rt plans to invest Ft 1 billion to expand its production of bioethanol from an annual 5 million liters to 16 million liters, CEO György Folláth said yesterday. The addition of bioethanol to the distillery's production is expected to boost revenue in 2006 Ft 1.6 billion over 2005's revenue of Ft 4.4 billion, and it should increase pre-tax profits 50%, Folláth said.

EU rules require members to replace 5.75% of fossil fuel consumption with biofuel by 2010. Already, biofuels account for about 0.5% of Hungary's fuel consumption, and they are expected to account for 3% by 2007, according to calculations by Hungarian oil and gas company Mol Rt.