LATEST NEWS

Developments home-in on Hungarian biodiesel

9th May, 2008

Austrian oil baron Rudi Roth announced that Hungarian Oil and Gas (MOL) has increased its ownership to 33% in the 43 million gallons a year canola-based Rossi Biofuels biodiesel plant in Komarom.

Roth will invest a total $50 million (€33 million) in the project, which will be the largest environmental joint venture between Austria and Hungary.

Hungary-based Duna Development recently announced that it will build a 26 million gallon a year corn ethanol plant near Orosháza, in southeast Hungary. Hungarian, Swiss, Austrian and German investors are backing the $126 million project that will open in Q3 2009. The plant will also produce 18 Mw of electricity and 60 million m³ of natural gas.

Magyar Bioenergetikai (Mabio) announced that it will develop two ethanol plants in Csabacsűd and Szabadszállás with a combined production capacity of 65 million gallons a year. The development will cost $263 million.