Colombia’s state-run energy company, Ecopetrol, has announced plans to invest between $500 million and $700 million in the construction of a plant dedicated to producing Sustainable Aviation Fuel (SAF), company president Ricardo Roa confirmed on Wednesday, reports Brazil Energy Insight.
The new facility will be located at the Barrancabermeja refinery, with its development phase set to begin between this year and next, Roa told reporters.
According to company projections, the plant is expected to start production by 2030 and will generate approximately 6,000 barrels of SAF per day.
Ecopetrol has outlined an investment plan ranging from $5.9 billion to $6.8 billion for this year. The funding will come primarily from its cash reserves, which stood at $4.4 billion at the end of 2024.
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