25m-euro funding for Martifer biodiesel plant

BRD – Groupe Societe Generale and Portuguese bank Caixa Geral de Depositos are funding a project by the Portuguese group Martifer to the tune of 25.1 million euros, to construct a biodiesel plant in Romania. BRD – Groupe Societe Generale was the arranger in this syndicate, while the Portuguese bank, Caixa Geral de Depositos, was the co-arranger, with the funding spread over a seven-year period, according to BRD – Groupe Societe Generale. Last year, the Portuguese consortium Martifer announced it would invest 50 million euros in Lehliu to build a refinery that produces biodiesel, an environmentally friendly fuel manufactured from rape and soy. The project will be completed within the next two years and it is estimated that the first stage of development could cost 41 million euros, according to information available. Biodiesel is manufactured from renewable resources. It is used for diesel engines and can be mixed in various amounts with diesel oil to create a fuel mixture.