Southern Online commences Sale of Biodiesel by SBT Biodiesel plant

Southern Online Bio Technologies Ltd has announced that the country's first Biodiesel plant has started selling Biodiesel on July 12, 2007. The Company has established Biodiesel unit at Samsthan Narayanpur Village & Mandal, Nalgonda District with 40,000 liters per day capacity with an investment of Rs 25.72 crores.

The plant will be operated under the supervision of the engineers of the technology providers i.e. M/s. Lurgi AG, Germany and their Indian partner M/s. CCI, New Delhi and will be handed over to SBT, after 2-3 months successful operations and also after testing various other sections of the plant, during which the man power of SBT will be trained properly to handle the plant independently. During this period SBT will focus to streamline sales and raw material procurement.

The Company has already supplied Biodiesel to well reputed customers like IDEA Cellular, L&T, Southern Rocks & Minerals Pvt Ltd, ABT Parcel services, TNT Express couriers, Coke etc, and all these customers are satisfied with the product performance.

APSRTC (Andhra Pradesh State Road Transport Corporation) has called for tenders in the month of April, 2007 for the supply of 1,15,68,000 liters of biodiesel per annum. The Company has participated in the tenders and stood as L1 in the tenders.

Indian Railways also called for tenders to supply 1,40,000 liters of Biodiesel per day recently, and the Company is participating in this tender too.

The stock closed the day at Rs.15.98, up by Rs.1.44 or 9.90%. The stock hit an intraday high of Rs.16.90 and low of Rs.14.85. The total traded quantity was 1430428 compared to 2 week average of 276052.

Source : Equity Bulls

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