Interra’s initial investment is for around 40% of the JV Company for US$282,000. The entire cost of the the joint-venture is estimated at US$4.8 million, and Interra’s share is estimated at US$1.92 million.
Wood pellets are biofuels made from residuals left from the wood industry, Interral says in a statement. "They are widely used as fuel in Europe, North America, South Korea and Japan. In recent years, its use has also been on the rise in China, Thailand and Indonesia as the world turns towards renewable, sustainable energy sources. Wood pellets are currently one of the most widely used forms of biofuel, and the outlook for this product is very promising," Interra says.
