Indian UCO biodiesel producer to build plant in Armenia

In Armenia, India’s Proalgen Biotech is looking to take advantage of the country’s used vegetable oil stocks to build a EUR20 million biodiesel facility. A memorandum of understanding to develop the city was signed on Wednesday during an Indian investment delegation to the country. Proalgen Biotech already operates two UCO biodiesel plants in India and is exploring development of another facility in Saudi Arabia. The biodiesel would be marketed in the European Union where the waste feedstock-based fuel would fetch a higher price thanks to double counting.