IFM Warns It Will End A$3 Billion Fuel Project Without New Rules

IFM Investors Pty warned it may scrap a proposed A$3 billion ($2.2 billion) investment to make sustainable aviation fuel in Australia, unless the government mandates that airlines use the product.

IFM, which owns stakes in airports from Sydney to London, has spent at least two years assessing plans to produce the cleaner-burning fuel from local agricultural feedstock. To proceed with the project, the company needs government policy to guarantee demand for the fuel from carriers such as Qantas Airways Ltd., Danny Elia, IFM’s global head of infrastructure asset management, said in an interview on Monday.