Finnish UPM to build plant for biofuels from crude tall oil

Feb 1, 2012 - Finnish paper maker UPM-Kymmene Oyj (HEL:UPM1V) said today it would invest EUR 150 million (USD 197m) in building a biorefinery in Finland for the production of biofuels from crude tall oil.

The facility, to be located in the city of Lappeenranta, will be capable of producing some 100,000 tonnes of biodiesel, named UPM BioVerno, a year.

Construction works will start in the summer of 2012 and are due to be completed in 2014. When completed, the biorefinery will directly employ some 50 people and indirectly -- around 150 people.

UPM is planning to build another biorefinery either in Rauma, Finland, or in Strasbourg.

(EUR 1.0 = USD 1.314)

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