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BNS - The northeast Estonia-based Viru Keemia Grupp (Viru Chemical Group, VKG) that focuses on the production of shale oil will soon launch a new plant that cost 1.1 billion kroons (EUR 70 mln) and has an annual capacity of 0.9 million tons of shale oil.
Development director of VKG Jaanus Purga said the construction has so far proceeded according to plan and the company hopes to get the first batch of oil from the new factory already at the end of October.
According to earlier information, VKG in spring reduced the expenditures of the parent company by up to 30 percent compared with the previous year. The company then said the only investment project that would go ahead on the planned scale was the construction of the new oil factory.
(EUR 1 = EEK 15.65)
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