China plans to invest $ 120 million in Ukrainian biofuel industry
In the course of the negotiations held in February 2012, the representatives of the Chinese government expressed their readiness to cooperate with Ukraine and stimulate the development of Ukrainian biofuel sector.
China is willing to invest about $ 120 million on the reconstruction and development of Ukrainian biofuel industry. First of all, China will send a delegation to check the technical condition of the main objects - distilleries - and determine how to modernize the companies.
For now the plan is to refurbish and improve 10 unprofitable distilleries.
Ukrainian delegates, in their turn, visited factories in Shandong Province (China) engaged in the production of equipment for biofuel enterprises in the CIS, Latin America and other countries. Ukrainian party was impressed: the technologies there meet the latest technical requirements.
The investments offered by China will bring the biofuel segment of Ukrainian energy sector to a qualitatively new level.
Moreover, under the Ukrainian draft bill during the period from 2013 to 2016 the proportion of biological additives in the fuel should be up to 10%. The alliance with China on the issue of modernization of biofuel industry in Ukraine is economically and strategically advantageous.
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