Argentina’s abundant supply of vegetable-based oils – such as that from soybeans – is attracting foreign investors, in particular from Europe, in search of the increasingly scarce and expensive biodiesel energy to comply with EU norms. Biodiesel is a renewable energy derived from vegetable oils. After several months of negotiations, German investor Neckermann-Gate has agreed with Argentina’s Oil Fox to invest $27 million in a biodiesel plant in San Nicolás, which will supply 25 million litres a month. If the project is successful, Neckermann-Gate is reportedly interested in investing in further plants in Argentina and perhaps beyond into other parts of Latin America.
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