Arab group builds oil recycling plant in Romania with EUR 56 mln

The group Chemie-Tech DMCC from the United Arab Emirates will invest EUR 56 million in a plant that recycles the oil used in the automotive industry. The plant will be located in Oltenita, Calarasi County. The group will borrow EUR 15 million 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 is Adrian Petrus, former vice-president and financial director of Rompetrol,reports local Economica.net. 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. editor@romania-insider.com