08 January 2013 17:00 [Source: ICIS news]
LONDON (ICIS)--Slovak construction firm Eurobaum-JM is venturing into the production of oil made from waste polymers, the company said on Tuesday.
Eurobaum-JM would invest €5m ($6.6m) in establishing a plant near Lipany, northeast Slovakia, that would use a new environmentally sound technology for the catalytic degradation of base polyethylene (PE) and polypropylene (PP) and other plastics, it added.
Zoning permission for the installation, to be assembled in an existing factory building, was being sought, with the company aiming for a construction start-date of April, Eurobaum-JM said.
The facility, to be run by eight employees, should be ready for launch by September, it added.
The oil product would be sold for the production of fuels and chemical products, and perhaps also electricity, the firm said.
A buyer would also be sought for a gas component that would be generated from the transformation of the waste plastics, it added.
If the investment project in Slovakia proved to be a success, Eurobaum-JM would seek to set up further installations both domestically and in central and eastern Europe, the company said.
($1 = €0.76)
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