Serbia's Bio Energy Point to Raise Wood Pellets Output to 50,000 T - Media

BELGRADE (Serbia), October 5 (SeeNews) – Serbia’s Bio Energy Point, part of Cyprus-based East Point, said it plans to raise its annual output of wood pellets to 50,000 tonnes from current 30,000, Belgrade-based broadcaster b92 reported on Tuesday.

Bio Energy Point has invested 4.3 million euro ($5.9 million) in production facilities and plans to invest a further 1.4 million euro to increase its output, b92 (www.b92.net) quoted company owner Zoran Drakulic as saying. He did not disclose a time frame.

Bio Energy Point exports 90% of its output, Drakulic added.

According to Energy Minister Petar Skundric Serbia could produce about 500,000 tonnes of wood pellets per year which would bring in 80-100 million euro in revenue.

($=0.7259 euro)

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