News in Brief

Publication date: 26 May 2009

EIB loan in UK

The European Investment Bank (EIB) has signed a GBP400 million (€453 million) loan to the special purpose concessionaire Connect Plus, on behalf of the Highways Agency. The loan will help finance the M25 DBFO project – the widening of the M25, the ring motorway around Central London. The M25 is a key link on the Trans-European Transport Network (TEN-T) and has been highlighted by the EU as a road of strategic importance, which facilitates the free movement of people, goods and services across the Union.

Source: Europolitics

Largest renewable diesel plant

Neste Oil will launch construction of Europe’s largest renewable diesel plant in Rotterdam, on 26 May. The plant uses a renewable diesel production process that can make use of any vegetable oil or animal fat as its input.

Completion is scheduled for 2011. The fuel produced, the company claims, will provide between 40% and 60% cuts in greenhouse gas emissions over the whole product lifecycle. Neste Oil is also investing €550 million to construct the world’s largest renewable diesel plant in Singapore. Biofuels investment in the EU is spurred by a binding target for 2020 of achieving a 10% share of alternative fuels in transport.

Source: Europolitics