VKG Preparing to Build Second Shale Oil Plant

08.03.2011 16:05
Category: Economy

Viru Keemia Grupp, Estonia's largest shale processing company, has started preparations for the construction of its second shale oil production plant.

If all goes according to plan, groundbreaking for the new facility will start in 2012, VKG spokeswoman Julia Aleksandrova told rus.err.ee.

The company's existing plant, Petroter, was completed in 2009 at the cost of 70 million euros.

Aleksandrova said that the construction price tag for the new plant has yet to be determined, since some expensive systems at Petroter were already built with the future expansion in mind and therefore did not need to be duplicated.

According to information published by VKG Grupp, the company employs approximately 1,500 people and its projected turnover for 2010 was around 128 million euros.

 

Steve Roman


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