7th Feb 2006 12:01
D1 Oils Plc07 February 2006 PRESS RELEASE 7 February 2006 - London D1 Oils and Williamson Magor Sign Indian Jatropha Planting Agreement D1 Oils plc (D1), the UK-based global producer of biodiesel from renewableenergy crops, has entered into a Memorandum of Understanding (MOU) withWilliamson Magor & Co. Limited to form a joint venture company to developjatropha plantations with farmers in North East India. Williamson Magor is partof Williamson Magor Group, the largest tea plantation group in India and theworld's largest producer of quality tea. The group produces 70m kg of tea eachyear and provides direct employment to over 100,000 people. The proposed joint venture company will promote and facilitate jatrophaplantations through contract farming, and will arrange for necessary logisticsand facilities for production of biodiesel from the oil seeds harvested by thefarmers. The joint venture will aim to plant approximately 25,000 hectaresduring the 2006 planting season. D1's business strategy has three key elements: developing oil bearing crops(principally jatropha), refining biodiesel from a variety of feedstocks usingproprietary technology and trading biodiesel. The company operates across thebiodiesel spectrum, from earth to engine. D1 has identified jatropha as its primary biodiesel feedstock because it doesnot require arable land. Jatropha seeds are crushed to produce vegetable oil forrefining into biodiesel. Elliott Mannis, Chief Executive Officer of D1, said: "India is going to be a keylocation for the production and consumption of biodiesel from jatropha andcomprises the largest component of our current planting programme. Our MOU withWilliamson Magor is in addition to the contract farming programme currentlybeing undertaken through D1's joint venture in South East India, D1 Mohan BioOils, and takes us for the first time into North East India, where there aresignificant areas of marginal and unused land available for planting jatropha.Williamson Magor's experience of large-scale planting and its excellentrelationships with farmers make it a strong partner. "We are also pleased that one of the oil majors, BP, has initiated a $9.4million, 8,000 hectare jatropha research study recognising that as a non-edibleand drought resistant crop, jatropha is potentially an economically, sociallyand environmentally sustainable contributor to the challenges of energy securityin India. D1 is pleased to be working with a partner like Williamson Magor tohelp realise that ambition and to continue our earth to engine operations." D1 Oils: Graham Prince, Head of Corporate CommunicationsTel: +44 (0) 20 7321 3892Mobile: +44 (0) 7973 323840 Brunswick Group:Helen Barnes, Associate PartnerTel: +44 (0) 20 7404 5959 D1 Oils IndiaSteve DoutyRegional DirectorTel: +44 (0)20 7321 3885 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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