Swedish bioenergy company Varmlandsmetanol AB is interested in building a biomethanol plant in Estonia worth up to 350 million euros. “We have the technology, we have the material to build the plant, but legislation does not allow for it yet,” Madis Olm, Estonian representative of Varmlandsmetanol AB, told BNS. “As the plant would cost 350 million euros, nobody will invest in anything before it is certain that it would be possible and profitable.”
According to Olm, before making any more detailed plans, the company needs to discuss with the Estonian government whether it would be possible to tax biofuel less and whether legislation could be amended to allow for the production and sale of fuel containing three to 30 percent methanol. Olm said that construction of the plant, which would produce biomethanol from forest residue, would take three years to complete.
