Largest Australian biodiesel plant enters bankruptcy-equivalent

In Australia, Babcock & Brown announced that the 35 Mgy Natural Fuels Australia biodiesel plant, the country’s largest, entered the Australian equivalent of bankruptcy protection after technology provider Lurgi withheld required payments to the plant owed under the original operating agreement. Natural Fuels, which owned 50 percent of the plant in a joint venture with Babcock & Brown, said that the company would concentrate on its own facility in Sinagapore.

Also in Australia, the state of Queensland said it would continue with implementation of a 5 percent biofuels mandate that would take effect in 2010.

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