Warsaw (Puls Biznesu) – J&S Energy, the importer and exporter of chemical and oil products, and a producer of biofuel, plans to produce bio elements used in fuels. The company wants to produce 750,000 tones of methyl ester annually. The company is going to build five installations in Europe, including at least two in Poland.
There may be a third one. Investment will amount to several million zlotys. We have not decided how big the capacity will be, we are preparing our business plan, Grzegorz Zambrzycki, J&S Energy CEO said.
According to unofficial sources, the investment will amount to PLN 200m (EUR 52.2m) at the first stage. J&S is going to finance it from its own sources and bank credits.
We’ve chosen Poland for several reasons. We have 10-percent market share in the fuel market. We have been selling fuel for four months now and we could increase sales by 5-6 times, so the majority of production could be sold in Poland, Grzegorz Zambrzycki explained.
His company produces 2,000 tones of biofuel. It could produce more, but it lacks bio elements.
In Szczecin, the plant will sell its products to German refineries, Grzegorz Zambrzycki added.
In his opinion, construction works will last 10 months, necessary permissions will be obtained within 6 months, so the plants should be launched in the middle of 2007. Decisions concerning other plants in Europe will be made within the first quarter of the year.
(PLN 1 = EUR 0.261)