Spanish biodiesel company, Infinita Renovables, has signed an agreement with Indonesian group, Musim Mas, to rent its plants in Spain for the production and sale of biofuel. The agreement aims to recover the operational activity of the plants and develop the biodiesel business in Spain. Infinita Renovables has faced economic and productive difficulties since 2011, but the partnership with Musim Mas is expected to reinforce its competitiveness and guarantee the future of its plants. The company's plants in Galicia and Castellón have a total capacity of 900,000 tons, making it the largest biodiesel producer in Spain.
Infinita Renovables, with two biodiesel generation plants in the outer port of Ferrol and in Castellón, has signed an agreement with the international group, Musim Mas, of Indonesian capital, to rent its plants in Spain for the production and sale of biofuel and "Recover its operational activity," the company said
This is a "corporate agreement" to jointly develop the biodiesel business in Spain through Masol Iberia, a company that controls Musim Mas with 100% of the shareholding and base in Singapore, through an "operating lease," he explains in a statement .
"This agreement reinforces the competitiveness of Infinita Renovables in a global scope and guarantees the future of the plants installed in Spain," highlights the biodiesel company, with the capacity to produce annual tons. "The Castellón plant has already started commercialization and the Ferrol plant will resume shortly," he says.
The company was going through economic and productive difficulties since 2011, which led it to apply successive EREs in Galicia and Valencia.
The Infinita project started in 2008 and soon ran into difficulties in exporting its production, which it attributed to the "normative evolution" of Spain and the EU itself, which "favored" the entry of foreign biofuel, especially from Argentina and Indonesia .
The company now partners with an international group, Musim Mas, which "globally operates the entire palm oil business value chain," with 28,500 employees and selling in 80 countries.
The Galician and Castellón plants total 900,000 tons and make Infinita Renovables "the company with the largest biodiesel production capacity in Spain".
In Galicia, Infinita settled in June 2009 on land in the outer port of Ferrol and has the capacity to produce 300,000 tons per year.