Ukraine to introduce new biofuels incentives and credits

In the Ukraine, prime minister Julia Timoshenko said that she would introduce a new law to provide tax benefits and incentives for canola-based biodiesel and other unnamed biofuel feedstocks.  She said that benefits would include reduced costs for land, and subsidies to reduce the cost of borrowing capital would be among the incentives offered by the national government. The Ukraine government had previously announced a national biofuels program in 2006 with a goal of 623,000 tonnes of biofuels capacity by 2010 from up to 20 new biofuels plants.

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