The Federal Government’s amendments to excise rules on biodiesel are already having a positive impact on biodiesel producers around the country, including BAA member ARfuels.
ARfuels Managing Director Andrew White told the Border Mail that after a year of lobbying, the changes to the legislation meant that “30-odd jobs out at Barnawartha [biodiesel plant] are secure.”
Mr White added that there were now “no excuses not to grow the business.”
He went on to elaborate on the effect of investor confidence on his business.
The original excise legislation, introduced in 2011, was to see biodiesel remain excise free until 2021, however this was overturned by the current Liberal government in their 2014 budget, when Treasurer Joe Hockey announced that excise would be paid on the fuel from 2016 onwards.
Mr White said the 2014 announcement saw his company’s share price drop from 65 cents to 10 cents and impacted on its future business plan. But the revised excise agreement could attract further investment and see the company grow from one plant to three in the coming years. Already, ARFuels has announced the execution of several new sales contracts to supply millions of litres of biodiesel in the coming years.
Mr White’s statements are further proof of the benefits a strong biofuels industry can bring to the Australian economy, including in the form of increased jobs across the production and supply chain of these sustainable fuels.
You can find out more about the Federal Government’s biofuels excise legislation here.
*Adapted from the Border Mail. Original article can be read here.