BP and AGF get green light from EU to build ethanol plant in the UK
Now that concerns about a possible cartel have been discarded, the EU has authorised an ethanol plant that BP and AGF (Associated British Food) planned to build in the north of England.Since BP is an oil company and AGF is dedicated to food, some voices raised against possible concerns in manipulating the market, affecting prices and free market concurrence. The resulting alliance between the two does not reach a significant percentage (less than 25 percent) of the market, so the EU gave its green light to the project.
The plant will start producing ethanol to be mixed with gasoline in 2010.
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[Source: Europa Press]
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