Germany's Verbio Mulls EUR 100 M Investment in Bulgaria

Business | August 27, 2007, Monday // 00:00

German company Verbio Vereinigte BioEnergie, the biggest biofuels producer in Europe, said on Monday it was considering plans to invest up to EUR 100 M in a biofuel production facility in Bulgaria.

The announcement came after Verbio CEO Claus Sauter met with Bulgarian Energy Minister Petar Dimitrov.

The company wants the new facility to be located close to a port and Bulgaria's city of Varna on the Black Sea is one of the options under consideration.

If Verbio goes through with the plan, it would produce both biodiesel and bioethanol, making Bulgaria a major source of biofuels in southeastern Europe.

The company has several biofuels facilities in Germany, with a cumulative annual production capacity of 700 000 tonnes, investing also in other renewable sources of energy.

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