WILLEMSTAD - Steamboat Fuels has been granted an environmental permit. The American company will build a factory in Bullen Bay to produce biofuels.
Sustainable fuel is derived from renewable resources that are pre-treated and converted into new fuel. The company has a capacity of 13,000 barrels per day, and the oil is refined locally and exported abroad.
According to Steamboat Fuels, the arrival of the company will have a significant economic impact due to the 24-month development period and construction costs during that period. Expected revenues are more than $1.5 billion per year.
The company claims that the factory's arrival will create a thousand new jobs.