Third VKG Shale Oil Plant Receives Green Light
Kohtla-Järve city government has approved plans by Viru Keemia Grupp (VKG) for a third shale oil plant.
The company's first plant has been in operation for two years, while the second facility is still under construction, and expected to begin work next summer. The new plant, Petroter III, is expected to be ready in the second quarter of 2015, ERR radio reported today.
Infrastructure and construction costs are estimated at around 80 million euros for the new project.
VKG board member Meelis Eldermann said that their technology is older than what Enefit (Eesti Energia) uses, but just as efficient, adding that its plant is working while Enefit is still struggling to begin operations at its high-technology facility.
Eldermann said they hope to find new markets for the technological solutions they have developed.