Brief: Oil major Total buys 25 pct stake in French group Ecoslops Provence
01/04/2019 07:19
April 1 (Reuters) - Total TOTF.PA /Ecoslops Sa ALESA.PA :
* Total has signed an agreement with Ecoslops S.A., an
innovative company that regenerates oil residues into new fuels
and light bitumen, that gives the oil major a 25% interest in
its affiliate Ecoslops Provence.
* Ecoslops Provence is building a unit to regenerate oil
residues at Total's La Mède complex. The new facility is
scheduled to come on stream in late 2019
* In 2019, the La Mède complex will be the site of France’s
first world-class biorefinery, for a capital expenditure of
€275 million. It will produce 500,000 tons of hydrotreated
vegetable oil (HVO) biodiesel a year
(Reporting by Sudip Kar-Gupta)
((sudip.kargupta@thomsonreuters.com;))