HELLENIC PETROLEUM S.A. announced today to the Athens Stock Exchange an agreement whereby the company will take a 25% stake in BIODIESEL S.A., which is to build a biodiesel plant in Greece. The plant will have an annual capacity of 100,000 tonnes, and will meet the needs of the Greek market, while also exporting to other countries. VIOHALCO S.A., HELLENIC FABRICS S.A. and PRIMA HOLDINGS S.A. will each, like HELLENIC PETROLEUM S.A., have a 25% stake in BIODIESEL S.A.
The plant will be built on the site of the VIOHALCO Group's SOVEL plant at Almiro in Magnisia. The 20-million-euro investment involves the creation of a vegetable oils refinery with a capacity of 300 tonnes a day, a glycerine distillation plant, a biodiesel transesterification plant and ancillary installations (steam generators, biological treatment, etc). With its participation in this project, HELLENIC PETROLEUM is showing practical support for sustainable development in the framework of its environmental policy. In addition, the company's management noted that the agreement is part of the Group?s development plan to increase the proportion of renewable energy sources in its energy balance.