Khazaen signs deal for Oman’s first biodiesel plant
27 July 2020
Khazaen Economic City has signed up with Wakud, an Omani technological initiative, to set up a facility for recycling waste cooking oil into biofuels.
A lease agreement was signed between Khazaen represented by its CEO Khalid al Balushi and Wakud represented by its Chairman, Talal Hasan. This innovative and environmentally sustainable project is supported by the Implementation Support and Follow-up Unit (ISFU) as well as ‘EJAAD’, an initiative founded by Ministry of Oil and Gas, The Research Council and Petroleum Development Oman to promote technology-based solutions to address fundamental challenges and emerging opportunities in the industry.
The project will be implemented as a joint venture in partnership with Green Fuels, a UK based biofuels company. Green Fuel is a pioneer in renewable fuels founded in 2003 and has supplied biofuel equipment with aggregate capacity equating to USD 500bn in fuel sales to customers in more than 80 countries.
The bio-diesel plant is one of the key strategic projects that were supported by the Implementation and Follow-up Support Unit (ISFU). The project has been selected based on specific criteria that included having a strategic partner, enhancing the added value, achieving sustainability in economic diversification, and promoting the culture of innovation and sustainability in the Sultanate.