Spanish cooking-oil and condiments maker Acesur plans to invest EUR15m (US$19.95m) to expand its Cuenca, Spain, factory to make 50,000 tonnes a year of biodiesel fuel, a company official told just-food today (19 March).
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Seville-based Acesur makes leading Spanish olive oil and cooking-oil brands La Espanola, Coosur and Gullen.
The biodiesel incursion is part of the company’s efforts to diversify its business in the booming biofuels market where larger rivals such as SOS Cuetara are growing strongly.
Sos is moving ahead with plans to build a 200,000 tonne/year biodiesel factory at its Andujar cooking oil factory in Jaen, Spain, which it hopes to inaugurate by late 2007. The site is expected to generate revenues of EUR120m a year and will use the site’s sunflower, soy, palm and jatropha seed stocks.
Under its new renewable-energy plan, Spain’s government wants 5% of the country’s transport petrol to contain biofuel by 2010 and possibly 10% afterward.
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By GlobalDataThe Acesur official said the biodiesel project will create 200 direct and indirect jobs.
Apart from its cooking-oil business, which accounts for 70% of revenues, Acesur makes vinegar, canned olives and mayonnaise.
