Mission Biofuels secures financing for two Malaysia projects from HSBC

In Malaysia, HSBC Bank Malaysia has agreed to provide financing for a $59 million Mission Biofuels biodiesel project in Malaysia that will include two plants in Malaysia.
The company said $9.55 million would be used to complete the first plant, and $27 million would be used to build the second plant. The company did not offer details on the usage of the remaining $23 million.

The first biodiesel plant, in Kuantan, Pahang, Malaysia, will produce up to 18 Mgy per year of palm-oil biodiesel which will be exported to Germany under a five-year contract.

Last month, Mission Biofuels signed a three-year deal for exclusive rights to jatropha oil produced from 12,500 acres in India. Mission has been in the news of late seeking alternative sources, and also for a biofuels contract with an unnamed major oil producer that failed to close. Jatropha production has been ramping up strongly in India, and the deal by Mission is with an entire district of production.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

Mission Agro Energy increase stake in Mission Biofuels India to 90 percent

In Mauritius, Mission Agro Energy will increase its stake in Mission Biofuels India to 90 percent, from 70 percent, after buying out Indian Agribusiness Systems. The company, a subsidiary of Mission B...

Palm oil price hikes chill Malaysian biodiesel expansion; only 4 of 91 approved plants have opened

In Malaysia, the government has approved 91 biodiesel projects to date but only four are in operation. The high price of crude palm oil is cited as the cause for the expected capacity boom that has no...

Mission Biofuels signs exclusive multi-year jatropha deal with Indian district

In India, Mission Biofuels signed an exclusive jatropha oil acquisition deal. Under the agreement, a cooperative group in an undisclosed district will provide jatropha from 37,500 acres on an exclusiv...

Mission Biofuels scales back biodiesel output to “jobber” basis, citing high feedstock prices

In Australia, Mission Biofuels said that it would only produce biodiesel in the near future on a "jobber" basis, citing the high price of feedstocks. The company said that it was in the process of con...

Mission Biofuels books more than 200 million gallons in palm and jatropha biodiesel orders

In Malaysia, Mission Biofuels will commence production at its Kuantun plant to fulfill European orders. Mission recently announced that it would cease producing biodiesel at-risk and would produce as ...

Mission Biofuels signs massive 25 Mgy biodiesel supply contract

In Australia, Mission Biofuels has signed a one-year contract with an undisclosed global oil trading firm to supply up to 25 Mgy of biodiesel, while work on an additional 38 Mgy biodiesel refinery in ...