Al Salam opens biodiesel plant in HK
Manama, October 23, 2013
ASB Biodiesel, a joint venture between Al Salam Bank-Bahrain and a group of Gulf-based financial institutions, has launched its new $165 million waste-to-biodiesel plant in Hong Kong.
A dynamic, diversified and differentiated Islamic lender, Al Salam Bank-Bahrain said the new plant is capable of processing waste oils into 100,000 tons of biodiesel annually.
The new plant is operated by ASB Biodiesel, a Hong Kong-based company that has Abdulla Hassan Saif, HRH Premier's Advisor for Economic Affairs, as its chairman. It is owned by various investors led by Al Salam Bank - Bahrain.
Hong Kong Financial Secretary John Tsang Chun-wah officially opened the plant by unveiling a plaque at the launch ceremony.
Speaking at the launch, Hassan Saif said: "We are very pleased that we could open this plant in Hong Kong, which offers the ideal population density to support waste collection and recycling, a well-developed regulatory and business environment, and proximity to the mainland Chinese market."
The biodiesel plant collects waste cooking oil and up to 550 ton of grease trap waste per day, then processes the waste using advanced, multi-feedstock technology from Austrian designer BDI Bioenergy International.
"We thank the Hong Kong Government, and its related constituent administrative divisions, for supporting the viability and completion of this project," he added.-TradeArabia News Service
More Industry, Logistics & Shipping Stories
- Flare, Jordan form parent company ‘Aereon’
- Drydocks delivers second MCV for US
- ASIS launches amphibious leisure boat
- Taskforce sought to develop Saudi downstream sector
- DP World launches $200m India project
- RAK 'exploring' ceramics unit stake sale
- Mideast carriers top global air freight growth
- DMCA launches maritime solution apps
- Saudi plans oil-to-chemicals plant at Yanbu
- Sabic gets four bids for JV with Mitsubishi Rayon
- Pentair, IDC launch industrial services JV
- Major maritime conference to be held in Dubai
- GPIC wins key IFA certification
- Gulf rules must aid e-commerce: Aramex
- Gulftainer expands 2013 ops by 50pc
- DMCA to take part in Dubai boat show
- Al Namal to launch eco-friendly chillers
- Abu Dhabi city ports to receive facelift
- Kuwait Styrene posts $180m net profit
- Drydocks set for key energy event
- Aramex launches new address check system
- Toshiba in green push at Bahrain expo
- Equate net profit surges 14pc to $1.2bn
- Shaikh Daij named new Alba chairman
- Al Abbas wins logistics rights to Sudan
- Milaha profits jump 14pc to top $260m
- BIC, Al Zayani renew partnership
- Dubai Metro to open 2 stations Saturday
- Top petchem firms back UAE plastics events
- DGCX, China’s DCE launch plastics futures