Vapo, the "State Fuel Centre" co-owned by the Finnish State and the forestry industry group Metsäliitto, will start turning swamp peat and wood into raw material for bio diesel. Vapo presented its diesel plans on Monday, and the final investment decision will be made in a couple of years’ time.
For Vapo the diesel plant is a large investment, as the facility comes with a price tag of around EUR 300 million. Vapo Group’s turnover in 2006 was EUR 600.9 million.
Vapo director Mikko Kara refers to Finland’s self-sufficiency in justifying the peat diesel project. "The securing of supply is an important criterion. For example, in the United States the armed forces' aim is that the entire military machinery run on domestic fuel", Kara says.
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Vapo has the technical capability to produce crude oil from peat alone, but for environmental reasons this will not be the case. The European Union still considers peat a form of fossil fuel, despite the fact that the Intergovernmental Panel for Climate Change (IPCC) has placed peat between biomass and fossil fuels in its ratings.
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