Apical Group is contemplating investments in one or two sustainable aviation fuel (SAF) projects in Southeast Asia and Europe as demand for lower carbon fuels increases towards 2030, according to a senior company executive.
These potential investments could follow the recent venture with Spain’s Cepsa, involving a 1.2 billion euros joint venture to construct southern Europe’s largest biofuels plant. Expected to commence operations in 2026, the plant aims to produce 500,000 metric tons per year (tpy) of renewable diesel and SAF. “Hopefully, we can finalize a refinery plan within the next one or two years,” stated Apical’s Executive Director Pratheepan Karunagaran.
Apical, a vegetable oil processor and a member of Singapore-based conglomerate RGE Group, aims to meet the forecasted SAF demand of 18 million to 20 million tpy by 2030.
