Cobra Group to invest in, perform EPC services for Omega Green complex in Paraguay
BSBios Paraguay and Spain-based industrial engineering company Cobra Group signed a preliminary agreement for Cobra to perform engineering, procurement and construction (EPC) services for the large-scale Omega Green renewable diesel and sustainable aviation fuel (SAF) complex being built by BSBios owner ECB Group. In addition to the Spanish engineering company providing EPC services for Omega Green, the firm would become an investor in the project as well, according to the memorandum of understanding.
The agreement was signed in late January by Erasmo Carlos Battistella, the CEO of BSBios Paraguay, and José Antonio Fernandez, CEO of Cobra Energy and Industrial Plants.
“Counting on the partnership, experience, and qualification of a business group such as the Cobra Group in the construction and enterprise management of the Omega Green project gives us the security to achieve the level of excellence we have planned for this unprecedented advanced biofuels project in the Southern Hemisphere,” said Battistella. “This is a very important moment for the project and we are very happy to also have the Cobra Group as a shareholder. Now, this is not only a commitment of BSBios, but also of large multinational companies that join our venture for a more sustainable future and for the production of a cleaner fuel.”
The USD$1 billion facility, which is expected to be capable of manufacturing approximately 300 million gallons of renewable diesel and SAF per year and begin operations in 2025, began sitework in November.
Just days prior to the agreement with Cobra Group, BSBios signed a memorandum of understanding with the Paraguayan fuel distribution group Copetrol with the purpose of Copetrol becoming a shareholder in the Omega Green project.
“This partnership will strengthen the project and reinforce Omega Green’s commitment to the country,” Battistella said. “Having a Paraguayan company as a partner, for us who are arriving in the country, brings us even more security.”
Blas Zapag, president of Copetrol, said, “I am here to reaffirm our commitment with the certainty that we are sealing a partnership for a promising enterprise for our country, Paraguay.”