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Home BUSINESSChinese firm plans biodiesel refinery in Kemi
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Thu, 11 Feb, 2016 01:52:04 AM
FTimes-STT Report, Feb 11
The site of Kaidi planed biodiesel refinery at Ajos in Kemi on Wednesday. Photo Lehtikuva.
The Chinese bio-energy company Kaidi is planning to build a billion euro biodiesel refinery at Ajos in Kemi, company sources said. 
The refinery would use wood, crop residues and forestry surpluses as its main raw materials.
The refinery would be the first of its kind both in Finland and the world.
The project will generate 4,000 jobs during its construction phase in Kemi, the company estimates. 
There will be about 150 permanent jobs, once the refinery is operational.
Kaidi Finland Chief Executive Officer Pekka Koponen said each industrial job will result in, for example, two to 10 timber-harvesting jobs.
The final investment decision on the refinery is scheduled to be made this year. Construction could begin next year, and the refinery would go into operation in 2019. 
The company is seeking public support for the project and debt financing, which Koponen will speak about in the future.
“We are considering grants and loans from the Finnish Funding Agency for Technology and Innovation (Tekes), guarantees from Finnvera as well as EU funding,” Koponen said.
According to Koponen, northern Finland is not running out of trees, and other companies are also planning major investments. Most of the wood needed for the refinery would come from Finland.
“We are also mapping out Sweden for possible future expansion. But the Swedish energy subsidy policies are weaker than Finland’s,” Koponen said.
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