China to invest $1.12 billion in first-of-its-kind wood biorefinery in Finland

In Finland, Chinese company Kaidi said it plans to invest $1.12 billion in a biorefinery producing 200,000 tons of drop-in diesel and gasoline from wood annually. The first-of-its-kind facility is schedule to be commissioned by the end of 2019. The company already owns biorefineries in China and Vietnam, and will make the final decision on the investment by the end of this year. The country is welcoming the investment as an opportunity to bring new value-added products to the forestry industry that has been waning in recent years.