ThaiEnquirer.com-Sept 1
Bangchak Corporation Plc (BCP) said that it and its affiliate BBGI Plc along with Thanachok Oil Light Co., Ltd. signed a joint venture agreement to establish BSGF Company Limited to produce what it calls as ‘Sustainable Aviation Fuel made from used cooking oil. BCP said that this venture would be the only such venture to produce sustainable aviation fuel in Thailand and the venture would see an investment of 8-10 billion Baht, with BCP holding 51% stake, Thanachok Oil Light holding 29%, and BBGI holding 20% of the venture. Chaiwat Kovavisarach, Group Chief Executive Officer and President of BCP said that the venture should be operational as early as Q4 2024. The venture, he said was the amalgamation of the experience and expertise of the three partners to lay a solid foundation for BSGF in terms of the procurement of raw materials, production, and distribution. The new venture would have initial production capacity of 1 million liters per day. It draws on the strengths of BCP as operator of world class complex refinery and a pioneer in buying used cooking oil for the production of biodiesel in Thailand, and its expertise in oil trading via BCP Trading Co., Ltd. or BCPT, its affiliate, the largest independent oil trader in the Singapore market. Thanachok Oil Light has had a long experience in the procurement of used cooking oil, while BBGI is a leader in biofuel industry and producer of high-value bio-based products. Chaiwat said that BSGF will begin the construction of a production unit of sustainable aviation fuel from used cooking within Bangchak Refinery, expected to be ready for commissioning by the end of 2024, with an initial daily capacity of 1,000,000 liters. Read more at: https://www.thaienquirer.com/43602/bangchak-announces-10-billion-baht-investment-plans-to-make-aviation-fuel-from-used-cooking-oil/
