Qantas Airways Ltd
(ASX:QAN) has begun plans to build a biofuels plant in Sydney with US bioenergy company Solena, according to The Australian.
Qantas expects to produce a business case for the plant which would enable the national airline to power its fleet with greener fuel by the end of the year.
The newspaper reports that the plant is one of two Qantas is considering to build in order to meet aviation industry guidelines of a 1.5 per cent improvement in fuel efficiency per year to 2020.
If successful, the plant would become the second commercial waste biofuel plant in the world and could create up to 1,200 jobs.
For the year ended 30 June 2010, Qantas reported a net profit of $116 million.
