Dubai makes big biodiesel investment in Malaysia
As we noted when Dubai announced a test of GM Hybrids for taxi and limo service, just because the Emirate has a lot of oil doesn't mean it isn't interested in checking out alternatives. News is out today that the Dubai Group has
made a large ($49.5 million U.S.) investment in Malaysian biodiesel company GBD and now has a 30 percent stake in that company. The emirate-owned Dubai Investment Group's CEO, Abdulhakeem Kamkar, said that renewable energy and biofuels are the "preferred industry focus" for the DIG (the DIG is a subsidiary of Dubai Group). By the end of the year, GBD's huge biodiesel plant should be able to produce up to 500,000 metric tons of biodiesel a year from palm oil (d'oh) and jathropha.
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