Valero Announces Approval of Diamond Green Diesel Plant Expansion
06 11월 2018 - 7:01AM
Valero Energy Corporation (NYSE:VLO) (“Valero”) announced today
that its Board of Directors approved a project to expand the
Diamond Green Diesel (“DGD”) plant in Norco, LA, to 675 million
gallons per year renewable diesel production capacity.
“We’re pleased to be taking this next step in
our partnership with Darling Ingredients,” said Joe Gorder, Valero
Chairman, President and Chief Executive Officer. “This growth
project fits nicely within our current capital allocation framework
and is expected to deliver high returns for investors without
changing our capital profile.”
With low carbon mandates in North America and
Europe projected to continue driving strong demand and premium
pricing for renewable diesel, this expansion adds a second,
independent parallel plant adjacent to the existing facility and a
renewable naphtha finishing facility, which provides incremental
low carbon fuel standard credit generation capability. Valero
expects its 50 percent share, or approximately $550 million, to be
funded from cash generated by DGD’s operations and for the project
to be completed in late 2021.
DGD is a joint venture formed between a
subsidiary of Valero and Darling Ingredients Inc. (NYSE: DAR),
the largest low carbon feedstock supplier in the world.
Darling Ingredients separately announced that its Board of
Directors also approved this project.
About ValeroValero Energy
Corporation, through its subsidiaries, is an international
manufacturer and marketer of transportation fuels and other
petrochemical products. Valero, a Fortune 50 company based in
San Antonio, Texas, with approximately 10,000 employees, is an
independent petroleum refiner and ethanol producer, and its assets
include 15 petroleum refineries with a combined throughput
capacity of approximately 3.1 million barrels per day and
11 ethanol plants with a combined production capacity of
1.45 billion gallons per year. The petroleum refineries
are located in the United States (“U.S.”), Canada, and the United
Kingdom (“U.K.”), and the ethanol plants are located in the
Mid-Continent region of the U.S. In addition, Valero owns the
2 percent general partner interest and a majority limited partner
interest in Valero Energy Partners LP (“VLP”), a midstream master
limited partnership. Valero sells its products in both the
wholesale rack and bulk markets, and approximately
7,400 outlets carry Valero’s brand names in the U.S., Canada,
the U.K., and Ireland. Please visit www.valero.com for more
information.
About DarlingDarling
Ingredients Inc. is a global developer and producer of sustainable
natural ingredients from edible and inedible bio-nutrients,
creating a wide range of ingredients and specialty solutions for
customers in the pharmaceutical, food, pet food, feed, technical,
fuel, bioenergy, and fertilizer industries. With operations
on five continents, the Company collects and transforms all aspects
of animal by-product streams into useable and specialty
ingredients, such as gelatin, edible fats, feed-grade fats, animal
proteins and meals, plasma, pet food ingredients, organic
fertilizers, yellow grease, fuel feedstocks, green energy, natural
casings and hides. The Company also recovers and converts
recycled oils (used cooking oil and animal fats) into valuable feed
and fuel ingredients, and collects and processes residual bakery
products into feed ingredients. In addition, the Company provides
environmental services, such as grease trap collection and disposal
services to food service establishments. The Company sells its
products domestically and internationally and operates within three
industry segments: Feed Ingredients, Food Ingredients and Fuel
Ingredients. For additional information, visit the Company's
website at http://www.darlingii.com.
Valero ContactsInvestors:John
Locke, Vice President – Investor Relations, 210-345-3077Karen Ngo,
Senior Manager – Investor Relations, 210-345-4574Tom Mahrer,
Manager – Investor Relations, 210-345-1953Media:Lillian Riojas,
Executive Director – Media Relations and Communications,
210-345-5002
Darling Ingredients
ContactsMelissa A. Gaither, VP IR and Global
Communications251 O’Connor Ridge Blvd., Suite 300, Irving, Texas
75038Email : mgaither@darlingii.comPhone : 972-281-4478
Safe-Harbor StatementStatements
contained in this release that state the company’s or management’s
expectations or predictions of the future are forward-looking
statements intended to be covered by the safe harbor provisions of
the Securities Act of 1933 and the Securities Exchange Act of
1934. The words “believe,” “expect,” “should,” “estimates,”
“intend,” “target,” “will,” “plans,” and other similar expressions
identify forward-looking statements. It is important to note
that actual results could differ materially from those projected in
such forward-looking statements based on numerous factors,
including those outside of the company’s control, such as delays in
construction timing and other factors. For more information
concerning factors that could cause actual results to differ from
those expressed or forecasted, see Valero’s annual reports on Form
10-K, quarterly reports on Form 10-Q and our other reports filed
with the SEC and on Valero’s website at www.valero.com, and VLP’s
annual reports on Form 10-K and quarterly reports on Form 10-Q
filed with the SEC and on VLP’s website at
www.valeroenergypartners.com.
Darling Ingredients (NYSE:DAR)
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Darling Ingredients (NYSE:DAR)
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부터 7월(7) 2023 으로 7월(7) 2024