Maravi

Oval Biofuels refines 250 litres of biodiesel

Oval Biofuels refines 250 litres of biodiesel
By Chiwoyu Sinyangwe
Wednesday October 08, 2008 [04:00]

OVAL Biofuels Zambia Limited says it has refined over 250 litres of biodiesel since inception in November last year. Company managing director Claude Morrissey told journalists during an Energy Regulation Board (ERB) media field trip last week that Oval Biofuels had largely been supplying biodiesel to its sister companies – Albidon Mines in Mazabuka and African Energy Resources which is currently engaged in uranium exploration in Kariba valley in Southern Province.

Morrissey further said Oval Biofuels had also been supplying biodiesel to a few other companies involved in uranium exploration in the area.
“Maybe the industry hasn't grown at the expected speed because of many cynics about the oil from grass stories," Morrissey said.
He urged the government to provide tax incentives to the biofuel sector to spur further growth.

Morrissey cited taxes such as Value Added Tax (VAT) and excise duty on imported equipment in the production line as some of the constraints to the development of the sector.

He further observed that Zambians had not fully embraced the development of the biofuel sector owing previous failed attempts in the development of the sector.
“Oval Biofuels is pursuing the development of the biofuel sector by involving itself in both growing the biofuel plants as well as processing the diesel,” Morrissey said. “We currently have production equipment with an installed capacity of 3,000 litres of biodiesel per day.”

Labels: OVAL BIOFUELS

posted by MrK @ 11:44 AM