KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) has expanded its biodiesel business in China with the maiden shipment of 6,000 metric tonnes of palm methyl ester (PME) to Nansha Port, Guangzhou.
Group president/chief executive officer, Datuk Mohd Emir Mavani Abdullah, said the shipment was a highly significant development for FGV's biodiesel ambitions.
"By successfully penetrating the China market, FGV is on track to achieving its global growth targets for its biodiesel strategy.
"China is one of the biggest biodiesel markets in the world. Given its huge energy requirements and reliance on biodiesel imports, we can meet this demand by virtue of being Malaysia's largest PME exporter," he said in a statement today.
Currently, FGV accounted for 31.59 per cent of Malaysia's PME exports, he said.-- Bernama