ASB Biodiesel, a joint venture between Al Salam Bank-Bahrain and a group of Gulf-based financial institutions, has launched its new $165 million waste-to-biodiesel plant in Hong Kong.
A dynamic, diversified and differentiated Islamic lender, Al Salam Bank-Bahrain said the new plant is capable of processing waste oils into 100,000 tons of biodiesel annually.
The new plant is operated by ASB Biodiesel, a Hong Kong-based company that has Abdulla Hassan Saif, HRH Premier’s Advisor for Economic Affairs, as its chairman. It is owned by various investors led by Al Salam Bank - Bahrain.
Hong Kong Financial Secretary John Tsang Chun-wah officially opened the plant by unveiling a plaque at the launch ceremony.
Speaking at the launch, Hassan Saif said: “We are very pleased that we could open this plant in Hong Kong, which offers the ideal population density to support waste collection and recycling, a well-developed regulatory and business environment, and proximity to the mainland Chinese market.”
The biodiesel plant collects waste cooking oil and up to 550 ton of grease trap waste per day, then processes the waste using advanced, multi-feedstock technology from Austrian designer BDI Bioenergy International.
“We thank the Hong Kong Government, and its related constituent administrative divisions, for supporting the viability and completion of this project,” he added.
Al Salam opens biodiesel plant in Hong Kong
Terpopuler
-
Berita / Manajemen Sampah
Singapore recycling firm Tay Paper set to close
The 34-year-old firm is under judicial management. It made a name for itself by recycling millions of red … -
Berita / Manajemen Sampah
Singapore’s polluter-pays scheme faces further delay amid concern over industry stalling tactics
Eksklusif The city-state's beverage container return scheme has been pushed back beyond its launch date – the latest in … -
Berita / Perkotaan
Stay or go? Jakarta’s coastal communities mull adaptation or migration as the city sinks
As Indonesia's capital is slowly claimed by the Java Sea, thousands of people are losing their homes and … -
Berita / Kebijakan & Keuangan
COP29 presidency reiterates commitment to Paris Agreement as Azerbaijan defends oil and gas expansion
As COP29 president Mukhtar Babayev outlined climate plans for the upcoming talks, Azerbaijan president Ilham Aliyev said at … -
Berita / Perkotaan
Tighten legal ambiguity, protect more forests: Singapore conservationists issue wishlist to government
Key asks include looking into having two new nature parks, along with explicit safeguards for the airspace above … -
Berita / Kebijakan & Keuangan
Verra validated by carbon market watchdog after ‘significant’ procedural changes
The standards organisation accused of approving “worthless” credits last year got an endorsement for meeting the ICVCM's quality …