news 23 Jun 16

Gulf Group to Build Oil Recycling Plant in Romania

The Emirates Chemie-Tech DMCC group will set up an oil recycling plant in southeastern Romania, the first of its kind in the region.

Romania Insider
Bucharest
Photo: Pixabay.

The group Chemie-Tech DMCC from the United Arab Emirates, through its subsidiary in Romania, Green Oil and Lubes SRL, is to invest 56 million euros in a plant that will recycle the oil used in the automotive industry. The plant will be located in Oltenita, in Romania's Calarasi County.

The group will borrow 15 million euros from the European Bank for Reconstruction and Development, EBRD, to finance part of the investment. The project also aims to create a national network for collecting the used oil, which will be processed in the new unit.

The factory’s development director, Adrian Petrus, is a former vice-president and financial director of Rompetrol, local Economica.net reported.

The plant will have the capacity to recycle 73,000 tons of used oil per year. It will be the first such factory in Romania and Central and Eastern Europe. The demand has been covered by imports so far.

Chemie-Tech DMCC built a similar factory in the Emirates and plans to build another one in South Africa.

Talk about it!

blog comments powered by Disqus

Related Headlines:

balkan-retail-giant-agrokor-face-new-troubles-02-24-2017
24 Feb 17

Balkan Retail Giant Agrokor Faces New Troubles

The biggest retail company in Croatia, with a strong presence in the region, faces fresh financial trouble, causing its bonds to drop again.

24 Feb 17

Serbia Braces for Bumpy Election Ride

Premium Selection

montenegro-coup-claims-leave-russian-media-dumbfounded-02-23-2017-1
24 Feb 17

Montenegro Coup Claims Leave Russian Media Dumbfounded

The media in Russia have been following the latest dramas in Montenegro with intense interest – though most see it as little more than a slur campaign.

serbia-braces-for-bumpy-election-ride-02-23-2017
24 Feb 17

Serbia Braces for Bumpy Election Ride

The pro-government media are stepping up their negative campaigns, vilifying opposition candidates standing in April’s presidential election.

21 Feb 17

Croatia Profits from Syria’s Gruesome War