Altus Renewables Limited (‘Altus’) and Mitsui & Co., Ltd. will jointly explore the construction of a significant new production facility in Australia’s Green Triangle region of South Australia and Victoria, as the company says in the press release received by Lesprom Network.
Altus and Mitsui have also entered into a memorandum of understanding to conduct a feasibility study for the construction of a greenfield 500,000 metric ton per annum wood pellet production facility to be located in the GreenTriangle region of South Australia and Victoria.
“Building on our Queensland operations, we are looking forward to further strengthening our relationship with Mitsui by exploring opportunities to build a world-scale operation in the Green Triangle region with the potential to be the biggest plant in Australia,” Altus Renewables Managing Director and CEO Ian Sandeman said.
The facility is estimated to take approximately two years to complete, bringing employment opportunities and investment to the region.
Altus and Mitsui aim to complete a feasibility study on the Green Triangle Project by the 1Q 2019.
Altus Renewables is an Australian wood pellet producer with its wood pellet plant located alongside the Hyne & Son sawmill at Tuan, near Maryborough, Australia. The company services international pellet markets in Europe and Asia through the Port of Bundaberg.