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Market Chatter: IFM Threatens to Scrap AU$3 Billion Sustainable Aviation Fuel Project

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Australian investment company IFM Investors has threatened to scrap a proposed AU$3 billion sustainable aviation fuel project in Australia, unless the Australian government mandates airlines use the product, according to a Tuesday Bloomberg report, citing IFM's Global Head of Infrastructure Asset Management, Danny Elia.

Elia said that IFM needs to see some finalization of Australia's policy framework on the subject as well as a demand-side mandate, the report added.

IFM is working on the project under a memorandum of understanding with Ampol (ASX:AMP) and GrainCorp (ASX:GNC).

Virgin Australia (ASX:VGN) and Qantas Airways (ASX:QAN) did not immediately respond to anemail request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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