June 29, 2010 / 5:21 AM / 9 years ago

Wilmar, Elevance to build Indonesia biochemical plant

SINGAPORE, June 29 (Reuters) - Singapore’s Wilmar International (WLIL.SI) and U.S.-based Elevance Renewable Sciences will build a refinery in Indonesia to produce biofuels and oleochemicals, the two firms said on Tuesday.

The refinery, which is expected to be ready in 2011, will have an initial capacity of 180,000 metric tonnes a year and can be expanded to produce 360,000 metric tonnes of biofuels and oleochemicals annually.

The joint venture facility will be located within Wilmar’s upcoming manufacturing complex in Surabaya, Indonesia’s second largest city after Jakarta.

Wilmar, the world’s largest listed palm oil firm, and Elevance, a U.S. biotech start-up, did not say how much the refinery will cost. (Reporting by Harry Suhartono, editing by Kevin Lim)

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