Australian-based Sherdar Australia Bio Refinery, a speciality company of TransAsia Minerals, is planning to develop a renewable diesel processing and storage plant in the country, Macau Business wrote on 6 December.

The plant would have a production capacity of 500,000 tonnes/year of renewable fuels when fully operational, the report said.

While the location of the US$600M plant had not yet been announced, it would be located close to port infrastructure, Macau Business wrote, as Europe and the USA would be the primary destinations for renewable diesel exports to meet rising demand in both regions.

“This will be a huge opportunity for us to establish a hub in Australia for export of renewable diesel to other parts of the world,” TransAsia Minerals CEO Amon Aslanov said.

The facility would adopt the Shell Renewable Refining Process that could use a wide range of animal fat, seed oil and waste greases as feedstock to produce renewable diesel and sustainable aviation fuel (SAF), the report said.

Sherdar is currently in the final stages of receiving regulatory and governmental approval for the project, according to the report.

According to its website, Jakarta-based TransAsia Minerals is a privately-owned investment company, with a main focus on the mining, oil and gas, and energy sectors.

TransAsia Minerals established Sherdar Australia Bio Refinery to locally develop the project.