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New bio-fuel factory in Hungary, Almásfüzitő

An American entrepreneur plans to build a second-generation bio-fuel plant in Almásfüzitő (North Hungary), managing director of Iverg Consulting Kft, Pál Gágyor said.

The plant will produce 320,000 tons of fuel from one million tons of corn a year, he added. The investment value is estimated to reach Ft 100 billion ($547 million), but the name of the investor was not released yet, Gágyor said. Second-generation fuel types give 25%-30% more energy than earlier compounds and they may replace as much as 20% of the traditional oil-based fuel without damaging the engine. (Gazdasági Rádió)