Daman Investments in Dubai will take a majority stake in a venture to build the emirates’ first plant to produce biodiesel from inedible oils.
Rapidly-growing Dubai is facing a surge in oil demand as one of the cities
benefiting from a petrodollar-fuelled economic boom in the Gulf. It is the trade
and tourism hub of the United Arab Emirates, one of the world’s highest
per-capita emitters of greenhouse gasses.
“We need to harness all our
energy sources domestically to diversify the energy mix and fuel the
infrastructure required for economic growth,” Emirates Biodiesel (EmBio)
managing partner and founder Wadah Abusin said at a news conference on Sunday.
“We’re focused on sustainability, it will reduce some of the carbon
EmBio will produce around 3 mln gallons per year (or 230
barrels per day) of biodiesel, a fraction of the UAE’s around 50,000 bpd of
diesel consumption. EmBio will use waste cooking oil and other inedible oil as
feedstocks and the plant was scheduled to start up in the first half of 2009. If
successful, the plant will ramp up to 5 mln gallons per year or
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