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Argent Energy is working on plans for a $70 million biodiesel plant in Tauranga, to be in production in the second half of 2009 at the earliest.
Argent Energy New Zealand managing director Dickon Posnett told a Christchurch newspaper that raising capital in New Zealand was one option being considered to fund the plant.
Argent Energy was still in the feasibility and business planning stage for the plant, which was expected to make 75,000 tonnes a year of biodiesel from animal fat and other feedstocks.
"We haven't yet made a full commitment to the project in New Zealand. There are one or two issues which we need to get further clarification on," Mr Posnett said.
- NZPA
