Speech by FS at ASB Biodiesel Plant opening ceremony (English only) (with photos/video)

Speech by FS at ASB Biodiesel Plant opening ceremony (English only) (with photos/video)
*****************************************************

     Following is the speech by the Financial Secretary, Mr John C Tsang, at the ASB Biodiesel Plant opening ceremony in Tsueng Kwan O this morning (October 23):

Your Excellency (Mr Abdulla Saif), Mr (Anthony) Dixon, distinguished guests, ladies and gentlemen,

     Good morning. Indeed a very good morning today!

     I am pleased to join you all for the opening of the ASB Biodiesel Factory here in Tseung Kwan O.

     Protecting the environment and applying innovation and technology are both key policy objectives for the Government. This biodiesel production facility is indeed a clear demonstration of how technology can be used to turn waste into a valuable and environment-friendly resource.

     This project also complements Hong Kong's low carbon aspiration, while addressing the need to reduce and recycle waste products. Turning grease trap waste and used cooking oil into biodiesel contributes to the reduction of our carbon footprint.

     Biodiesel is also an effective alternative to fossil fuel. It delivers a similar energy performance and can be used in standard diesel engines without the need for any modifications.

     The wider use of biodiesel not only helps meet our energy needs, it also reduces greenhouse gas emissions. The Government has adopted a duty-free policy for the use of biodiesel as motor fuel to promote in our city.

     We also commissioned a pilot scheme in January 2012 to use B5 diesel in government vehicles, vessels and machinery. This is a blend of 95 per cent Euro V diesel and 5 per cent biodiesel. The biodiesel part of the B5 diesel in this pilot scheme comes from used cooking oil. The scheme is now in its second phase with more government departments taking part.

     We hope that these measures will encourage even wider acceptance and use of biodiesel in Hong Kong.

     I am pleased that ASB Biodiesel has chosen to make use of the Tseung Kwan O Industrial Estate to set up its facilities, which occupy some 18,000 square metres. We welcome this HK$1.3 billion (US$165 million) investment project from Bahrain, which is the country's largest investment in Hong Kong to date. It brings high-end technology, environmental solutions and jobs to our community. It is also a pioneering biodiesel project in this entire region.

     I would like to congratulate ASB Biodiesel on the opening of its Tseung Kwan O plant, and wish you every success with this project in the many years to come.

     Thank you very much.

Ends/Wednesday, October 23, 2013
Issued at HKT 12:20

NNNN