Viru Keemia Grupp announced on Thursday that they were reactivating two oil shale processing refineries, and taking 350 workers back on that they had previously laid off because of the oil world market price’s extreme low.
CEO of Viru Keemia Grupp (VKG) Ahti Aasmann said that the decision to start up the two mothballed refineries had been considered carefully. The deliberations had taken into account both the company’s financial situation as well as the government’s specific steps to create a tax environment appropriate to world market prices.
“We’re hoping that the constructive dialogue between the businesses in this sector and the government will continue, and that as a result a new tax system is created that supports the competitiveness of Estonian shale oil production on the global market and guarantees long-term tax revenues for the state,” Aasmann said.
He went on to say that current trends in the market gave reason for “restrained optimisim”, and that the reactivation of the two refineries positively affected VKG’s employees, the number of which would rise by about 350.
“Before anything else we’re offering jobs to our former staff,” Aasmann stressed. If needed, VKG would hire more, and in such a case would announce open positions on its website.
The necessary preparations, including thorough checks of the refineries’ installations, have already begun. According to VKG, they’ll reach their full capacity some time in early September.
Editor: Editor: Dario Cavegn