Gushan acquires two new biodiesel plant sites in China

In China, Gushan Environmental Energy announced agreements to acquire land in Chongqing and Hunan for biodiesel operations. Capacity was not announced for the proposed 11-acre sites, but they are consistent with mid-size biodiesel plant operations in the 20-50 Mgy range.

Earlier, Gushan commenced biodiesel production at its 50,000 tonne Beijing facility. Capacity at the Beijing plant will be increased to 100,000 tonnes by the 4th quarter of 2008. Gushan is on track to open a new 50,000 tonne facility in Shanghai in the second quarter of this year, with 30,000 tonne plants opening in Chongqing and Hunan later in the year. Overall, the company has set a goal of 400,000 tonnes of biodiesel capacity by the end of 2008.

In December, Gushan announced plans for a US-based IPO. The company did not disclose how much it expected to raise, but used $250 million as a nominal figure to calculate registration fees.

The company reported revenues of $98.3 million for the first nine months of 2007, up from $81.5 million for corresponding period of 2006. Income fell to $33.4 million from $36 million in the first nine months of 2006.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

Gushan adds new biodiesel capacity in Beijing; three new plants planned in China

In China, Gushan Environmental Energy announced that it has commenced production at the company's expanded biodiesel plant in Beijing, adding 50,000 tonnes (165 Mgy) in new capacity. The company alrea...

ASB Biodiesel announces 100,000 tonne biodiesel plant in Hong Kong

In China, ASB Biodiesel announced a 100,000 Tpy multi-feedstock biodiesel plant, that will be built in the Tseung Kwan O industrial area of Hong Kong. The plant will primarily utilize used cooking oil...

Gushan commissions 50,000 tonne Shanghai biodiesel plant

In China, Gushan Environmental Energy said that it has commenced production at its 50,000 tonne biodiesel plant in Shaghai, raising its total capacity to 290,000 tonnes. The company added that it is o...

Gushan to raise up to $250 million in US IPO; Chinese biodiesel producer plans to triple production

In China, biodiesel producer Gushan Environmental Energy announced plans for a US-based IPO. The company did not disclose how much it expected to raise, but used $250 million as a nominal figure to ca...

Gushan to suspend biodiesel production at Fujian plant over tax dispute; attempting to transfer production to other plants

In China, Gushan Environmental Energy said that it will suspend biodisel production at its Fujian plant due to a dispute over consumption tax liabilities. The company said that it is attempting to arr...

Gushan is subject of “Chinese Alt-Energy Stock Set to Spike” story, spiking its stock

In China, Gushan (GU) received a boost for its NYSE-traded stock when thestreet.com gave it a boost with its Stockpickr story on the company, "Chinese Alt-Energy Stock Set to Spike". The story noted t...