German biofuel producers bet on Romania

EOP Biodiesel, a German biofuels producer, anticipates a high development potential in the Baltic countries, Romania and Bulgaria, which do not have enough production facilities in order to comply with EU goals on the use of alternative fuels, says Reuters. EOP Beteiligungs operates in Romania through EOP Farms and EOP Siloz, which process rapeseeds. EOP has announced several international projects in the past year, including the signing of a letter of intent in order to set up a joint venture for the processing of rapeseeds in Ukraine. Other development projects in Austria and Latvia are at an advanced stage. In Austria, the company will start biodiesel production in the second half of the year, while in Latvia, the production of rapeseeds oil will begin in October. EOP Biodiesel anticipates biofuels sales in Germany will maintain at a high level, despite the introduction of new taxes in the field, in August. Germany imposed taxes on the sale of biofuels this summer, in order to increase its fiscal revenues.