Economy, Business And Markets

Spanish Firm to Invest in Bioethanol Plant

Spanish Firm to Invest in Bioethanol PlantSpanish Firm to Invest in Bioethanol Plant

The Spanish S.L.M Group has signed a contract with Iran Minerals Production and Supply Company to invest in the establishment of a plant for the manufacture of eco-friendly bioethanol using coal in Iran, Iranian Mines and Mining Industries Development and Renovation reported on its website. Bioethanol is a renewable energy source made by fermenting the sugar and starch components of plant byproducts, and used as a sustainable transport fuel and in other manufacturing processes such as cosmetics. According to the CEO of Spanish company, Juan Carlos Gonzales Perez, a combination of anthracite coal and certain plants will be used as the feedstock for the production of bioethanol in Iran, considering the country’s climate. He added that S.L.M Group is also considering signing a 15-year contract for the purchase of Iranian anthracite coal. This is the third bioethanol production project the Spanish group is undertaking, with the two others being implemented in Brazil and north Spain using a mix of “coal and sugarcane” and “coal with a type of potato” respectively.