SYDNEY (BLOOMBERG) - Melbourne-based company AgBioEn will start construction next week on a A$2 billion ($1.88 billion) project to turn agricultural waste into energy for use in food production.

The facility at Katunga in Victoria state is the first of its kind in Australia, the company said in a media statement, converting organic waste materials such as cereal straw into electricity, renewable diesel and jet fuel, and fertiliser.