Spanish parts maker Cie Automotive and chemicals manufacturer La Seda de Barcelona (LSB) will create a joint venture to expand in Spain’s fast-growing biodiesel market, the companies announced.
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The venture will be called Bioseda and build biodiesel factories next to LSB’s chemical plants across Spain.
Bioseda’s first project is the construction of a biodiesel plant next to LSB’s IQA chemicals mill in Tarragona, northern Spain.
The joint venture will be 60% owned by LSB and 40% by Bionor, Cie Automotive’s biofuels arm.
Cie Automotive is growing aggressively in Europe’s biofuels market with plans to install over 500,000 tonnes of capacity by late 2008.
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By GlobalDataIvan Castano
