Graphene Nanochem Regulatory News (GRPH)

30 Jan 2007 13:01

Biofutures International plc30 January 2007 For Immediate Release 30 January 2007 Biofutures International plc ("Biofutures" or "the Company") Awarding of Plant Contract Biofutures is pleased to announce that it's wholly owned subsidiary, Zurex Corporation Sdn. Bhd, has signed a contract with JJ-Lurgi Engineering Sdn. Bhd ("Lurgi"). Under the terms of the contract, Lurgi will supply components for the construction of a biodiesel plant in Lahad Datu, Sabah, Malaysia. This plant is expected to produce 200,000 tonnes of palm oil diesel a year. JJ-Lurgi Engineering Sdn. Bhd is a 50.0 per cent. associate company of Lurgi AG, which has been supplying biodiesel plants for over 15 years and is now the world's market leader. Lurgi AG has constructed over 20 plants in Europe, predominantly in Germany, and more than 25 worldwide, including a palm oil biodiesel plant in Batam, Indonesia. On 30 October 2006, Biofutures announced that Lurgi expected to be able to commence delivery of components within 12 months of signing the contract. The Company remains confident that this timing is achievable and that construction of the Biofutures plant will be completed by October 2008. Costs are in line with expectations. Nicholas Gee, Executive Chairman of Biofutures, commented: "The use of Lurgi's proven technology is key to delivering the biodiesel plant on time and ensuring production of high quality biodiesel. The signing of this contract completes the first major milestone of this project." For further information, please contact: Nicholas Gee: Executive ChairmanBiofutures International Plc 0191 497 7150 Joseph Marffy/Roxane MarffyRuegg & Co Limited 020 7584 3663 Daniel Briggs/Jeremy ChantryHichens Harrison & Co plc 0207 588 5171 Mark Edwards/Suzanne Brocks 0207 466 5000Buchanan Communications This information is provided by RNS The company news service from the London Stock Exchange