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Australian airline Qantas is part of a consortium planning to buy unused land and assets at the Marsden Point oil refinery in New Zealand to manufacture biofuel on the site.
The refinery shut down in 2022 because of declining revenue, and ownership of the site was transferred to Channel Infrastructure Limited, which is using some of the infrastructure for fuel importation and storage.
It has signed a conditional agreement with Seadra Energy and a consortium of partners to develop a biofuel manufacturing operation on the site. The partners are Qantas, Renova Inc, Kent Plc, and ANZ.
The consortium will purchase Channel’s decommissioned refinery assets (which would be refurbished and reconfigured), existing tanks, jetties, and certain other infrastructure, along with approximately 18 to 20 hectares of land. The deal will cost Seandra and its partners around US$57 million (NZ$90 million)….
