South Korean holding company GS Holdings (KRX:078930) subsidiary plans to produce biofuel in Indonesia by recycling palm oil mill effluent (POME), aiming to cut methane emissions and support South Korea's climate goals, Yonhap News reported Tuesday.
The company will conduct a six-month feasibility study to evaluate greenhouse gas reduction potential and investment viability, the report said.
If the feasibility study is successful, it will build Indonesia's first POME oil processing facility to produce sustainable aviation fuel and other biofuels, it said.
Shares of GS Holdings rose more than 1% in recent trade.
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