{"id":71448,"date":"2023-06-13T00:00:00","date_gmt":"2023-06-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/06\/13\/omans-wakud-to-establish-plant-in-khazaen-economic-city-for-biofuel-production\/"},"modified":"2023-06-13T00:00:00","modified_gmt":"2023-06-13T00:00:00","slug":"omans-wakud-to-establish-plant-in-khazaen-economic-city-for-biofuel-production","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/06\/13\/omans-wakud-to-establish-plant-in-khazaen-economic-city-for-biofuel-production\/","title":{"rendered":"Oman\u2019s Wakud to establish plant in Khazaen Economic City for biofuel production"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Oman\u2019s first biofuels producer <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.wakud.com\/about-2\/\" style=\"\">Wakud<\/a><\/span><span style=\"font-weight:700\"> plans to establish a biofuel plant with a capacity of <\/span><span style=\"font-weight:700\">250 tons per day<\/span><span style=\"\"> at an investment cost of USD 120 mn to USD 150 mn in partnership with Omani-British green energy venture <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/x2eom1.odoo.com\/\" style=\"\">X2E<\/a><\/span><span style=\"\">, who will be funding the project, the two companies\u2019 top executives told <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/projects\/industry\/omans-wakud-plans-10-fold-increase-in-biofuel-production-capacity-qwgmfgcs\" style=\"\">Zawya Projects<\/a><\/span><span style=\"font-weight:400;\"> last week. The plant, which will be set up in the country\u2019s Khazaen Economic City, comes as part of Wakud\u2019s plans to boost its production capacity 10x, they said. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What we know:<\/span><span style=\"font-weight:400;\"> Construction on the project is set to begin in two months, with a completion timeframe of 16 months, Wakud CEO Maher Al Habsi said. Production is expected to begin by the end of 2024, he added. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The plant could also expand to encompass SAF production:<\/span><span style=\"font-weight:400;\"> \u201cWith this huge factory, we will be ready to produce sustainable aviation fuel (SAF) and marine fuels by 2025, depending on raw material availability,\u201d he said. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Background:<\/span><span style=\"\"> X2E acquired a 60% stake in Wakud for USD 1.4 mn, and plans to spend an additional USD 3.6 mn soon to raise the capacity of Wakud\u2019s existing<\/span><span> facility, which produces 20 tonnes of biofuel a day, he<\/span><span style=\"\"> added. The company announced the acquisition in a LinkedIn <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7073524251269455872\/\" style=\"\">statement<\/a><\/span><span style=\"font-weight:400;\"> yesterday. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The company\u2019s eyeing regional expansion: <\/span><span style=\"\">Wakud could also be looking at expanding to Saudi Arabia and the UAE, he said. \"About 90k tonnes per month of used cooking oil (UCO) is available in Saudi. The country has big plans for the sector, and we would like to participate in that,\" he said. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">About Wakud:<\/span><span style=\"\"> The Omani-based company is a joint venture between <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/4401.earth\/\" style=\"\">Carbon Management Services<\/a><\/span><span style=\"\">, the UK\u2019s leading manufacturer of sustainable biofuel process equipment <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/greenfuels.co.uk\/\" style=\"\">Green Fuels<\/a><\/span><span style=\"\">, and Al Habsi to set up a biofuel ecosystem in the Middle East starting with Oman, according to the company\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wakud.com\/about-2\/\" style=\"\">website<\/a><\/span><span style=\"font-weight:400;\">. It supplies biofuels to various industries, including construction and shipping, in a bid to help them slash their carbon footprint. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The plant could expand by 2025 to produce sustainable aviation fuels<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45],"tags":[184,17,44,142],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-71448","post","type-post","status-publish","format-standard","hentry","category-investment-watch","tag-decarbonization","tag-enterprise-logistics","tag-investment-watch","tag-oman","wpautop","entry"],"acf":{"mongo_id":"13d299df-a301-4d66-9cb6-c185e971bd88","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/6\/618.png,https:\/\/www.wakud.com\/newsroom-2\/","photo_position":"above","homepage_title":"","full_issue_title":"Oman\u2019s Wakud to establish plant in Khazaen Economic City for biofuel production","related_issue":[71439],"teaser":"The plant could expand by 2025 to produce sustainable aviation fuels","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.3bb311a3-1052-4421-9f7d-41a3430a6135.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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