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KUALA LUMPUR: Finland-based Neste Oil Corp is currently in talks with several Malaysian plantation companies to jointly undertake Clean Development Mechanism (CDM) projects under the Kyoto Protocol.
Renewable fuels vice-president (business operation) Risto Karppinen told StarBiz that the company was keen to jointly invest in CDM projects such as the capturing of methane gas from palm oil mill effluent ponds that were abundance in Malaysia.
He admitted that CDM projects were quite capital-intensive and could cost RM3mil to RM12mil per plant. “This will be a burdensome to most plantation companies or palm oil millers as their businesses have been affected by the low crude palm oil prices,” he said on the sideline of the ongoing POC 2009 conference.
Neste is a refinery and marketing company which focuses on premium quality fuel for cleaner environment. It refines 14 million tonnes of mineral oil products a year.
Its NExBTL diesel – produced at its plant in Porvoo, Finland, from renewable raw materials like animal fats, palm oil and mineral oils – is touted to be the world’s cleanest diesel.
“We plan to increase our palm oil feedstock from Malaysia to 250,000 tonnes this year from 160,000 tonnes last year,” Karppinen said.
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