Oil major BP Plc and Associated British Foods Plc won competition clearance from the European Commission on Thursday to build a plant to make transport fuel from wheat in Hull, northeast England. US chemical company DuPont is also involved. "The parties' shares on all relevant markets are below a level indicating market power and the additional market share that results from this transaction is very small," the European Union executive said in a statement. The companies have announced plans to invest 200 million pounds (US$401.6 million) in the plant, scheduled to produce around 420 million litres of ethanol annually from late 2009.
(Planet Ark, 31/08/2007)