Romania – The United Arab Emirates’ Chemie-Tech DMCC group is set to invest Euro 56 million (US$ 63 million) in a plant for Romania that will recycle oil used in the automotive industry.
The group will borrow Euro 15 million (US$ 17 million) from the European Bank for Reconstruction and Development to finance part of the investment. The project is also aimed at creating a national network for collecting the used oil, which will be processed in the new unit. The plant will have the capacity to recycle 73 000 tonnes of used oil per year and is claimed to be the first such factory not only in Romania but also across the whole of Eastern Europe.
Chemie-Tech DMCC has built a similar factory in the Emirates and is planning to construct another one in South Africa.