A subsidiary of National Toll Roads (NTR) has today announced plans to build a vegetable oil-based biodiesel facility in the Port of Cork.
The €50 million Bioverda facility expects to employ over 30 people directly and will have a production capacity of 200,000 tonnes of biodiesel per annum.
It will convert locally sourced and imported vegetable oils from rapeseed and other crops into biodiesel that can be used to directly substitute mineral diesel.
The company said that the new plant will help provide farmers with an alternative income as well as contributing towards Ireland's energy independence and security.
Bioverda chief executive John Mullins said: "The €50 million investment indicates our commitment to delivering renewable, environmental friendly alternatives to fossil fuels".
Construction on the plant is expected to take place in the next 12 to 18 months subject to planning permission.