18 January 2012 15:27 [Source: ICIS news]
LONDON (ICIS)--MOL has started construction of a production plant to make a patented paving asphalt from a mixture of bitumen and used tyres, the Hungarian oil, gas and petrochemicals group said on Wednesday.
The installation, which will require a total investment of forint (Ft) 300m ($1.23m, €0.97m), is being built at a site on the grounds of the MOL refinery in Zalaegerszeg, western Hungary, it added.
Slightly over one-third of the capital expenditure, Ft128m, would be covered by state funds from the Hungarian government’s Operational Programme for Economic Development, MOL product development director Andras Hollo said.
A trial production phase of the rubber bitumen plant is expected to get underway at some point in the summer, he added.
Rubber bitumen is recognised as an improved paving solution, while it is also considered to be environmentally friendly because of the use of old tyres in its production, MOL said.
($1 = €0.79)
($1 = Ft243.21)
(€1 = Ft309.46)
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