FGVB delivers first 48 MT PME to Kuantan fuel terminal

KUALA LUMPUR: Felda Global Ventures Biotechnologies Sdn Bhd (FGVB) has delivered its first 48 metric tonnes (MT) of palm methyl ester (PME) under the B5 programme to a client at the Kuantan Fuel Terminal.

In a statement, the Felda Global Ventures Holdings Bhd (FGV) unit also said that it had sent another 48MT to a fuel terminal in Terengganu.

“Previously the B5 biodiesel was sold only in the Central and Southern regions. FGV PME is now officially in the local B5 diesel market in the East Coast region of Peninsular Malaysia to power road transport diesel vehicles,” FGV group president and chief executive officer Mohd Emir Mavani Abdullah said.

He said the agricultural and agri-commodities company is optimistic of the prospects of an increase in demand for biodiesel in Malaysia upon the implementation of a programme in February 2014 in the peninsula and by mid2014 in Sabah and Sarawak.

The company’s fifth export shipment is en route to one of Europe’s busiest ports in Huelva, Spain, he added.

The consignment, shipped on Feb 10, comprises 6,000 tonnes of Malaysian ISCC Certified PME for a client, a dynamic and reputable energy company based in Geneva.

According to FGVB chief executive officer Wira Adam, the consignment is another FGV effort to penetrate the highly competitive European market, and the company also plans to send more biodiesel to several other countries including China.

FGV is also eyeing the United States and Australian markets following growing interest in renewable energy in both countries, he said. Last November, FGV shipped 4,200 tonnes of Malaysian ISCC Certified PME to Rotterdam in the Netherlands for delivery to a Switzerland-based energy company.

This was followed by more shipments to other European destinations including the latest shipment to a Spanish port.

In April last year, FGVB acquired a biodiesel refinery and other assets im Kuantan Port for RM35 million.

The acquisition followed the signing of an asset purchase agreement with Mission Biotechnologies Sdn Bhd for the acquisition of the refinery and other assets that include a 16,000-tonne storage tank connected to import and export pipelines in a deep water jetty. — Bernama