St1 to launch bio-ethanol plant in Poland

Work on the first bio-ethanol rectification plant in Poland is expected to start next year. The bio-fuel is to be produced from food processing industrial waste. The investor is the Finnish concern St1 which operates a chain of self-service gas stations in Poland. The plant is to be launched in 2011, wnp.pl reports.

Each installation in the plant will be producing 1,000- 3,000 cubic meters of ethanol per year. ‘The bio-fuel will be produced from bakery waste, potato waste and waste from beverage production. The number of installations to be built in Poland has not yet been determined. St1 is researching the market’, an St1 representative said.

The first plant is to apply the Bionolix technology which makes use of domestic and commercial biowaste as feedstock.

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ECONOMIC MONITOR

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• ● In December 2009 and January 2010, as in previous months in the second half of 2009, the Polish economy stood out against other countries in terms of GDP growth. Poland’s economic growth was higher than projected and higher than in other European countries.
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• In 2009 construction output increased by 3.7%.
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• Retail sales increase in most product groups.
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• On the Warsaw Stock Exchange, stock prices were very volatile in January 2010.
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• At the end of December 2009 the registered unemployment rate (claimant count rate) amounted to 11.9% versus 11.4% in November.
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• At the end of January the president signed the 2010 budget bill into law. The bill was adopted by the parliament on December 18.
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• In the fourth quarter of 2009 the Polish economy turned out to be more resistant to the global crisis than had been projected and than the economies of Polish neighbours, something which boosts optimism in forecasts for 2010 and the next years.
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WEEKLY MARKET ANALYSIS

No macroeconomic data for the Polish economy will be published at the beginning of this week. On Friday, the National Bank of Poland (NBP) will release balance of payment estimates for July. We think that the current account deficit was EUR750 million, a figure similar to that recorded in June. Bloomberg’s consensus forecast is EUR1,004 million.

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