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412668
Thu, 07/21/2016 - 14:03
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MBA Inks Deal With APEDB On Palm Biodiesel Investment, Export Potential

KUALA LUMPUR, July 21 (Bernama) -- The Malaysian Biodiesel Association (MBA) Thursday signed a Memorandum of Understanding (MoU) with India's Andhra Pradesh Economic Development Board (APEDB) to explore palm biodiesel investment and its export potential. In a statement Thursday, MBA said the agreement would pave the way for its member companies to potentially export palm biodiesel from Malaysia to a proposed palm biodiesel blending programme in India. "India has a current installed capacity of 600,000 tonnes per annum of palm biodiesel, therefore, it offers an export potential of 1.7 million tonnes of palm biodiesel from Malaysia," it said. Besides, MBA said the MoU would also allow member companies to explore investment and joint venture opportunities with local companies. "We look forward to APEDB's discussions with the Indian government to facilitate import of Malaysian palm biodiesel, the duty-free import of palm feedstock of Malaysian origin for biodiesel production into the country, as well as, incentives from the Andhra Pradesh government," it said. The MoU, signed in conjunction with the half-day ASEAN-India Business Leadership Conclave 2016, was witnessed by International Trade and Industry Minister Mustapha Mohamed and Andhra Pradesh Labour & Employment, Factories, Youth & Sports, Skill Development and Entrepreneurship Minister Sri Atchannaidu Kinjarapu. -- BERNAMA

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