INA to invest HRK 200 mln at Rijeka refinery
Croatian oil and gas company INA, a subsidiary of Hungaryʼs MOL, said yesterday that it had signed a contract with Spanish company Tecnicas Reunidas concerning the first phase of the upgrade of INAʼs Rijeka refinery, according to Hungarian news agency MTI.
Technicas Reunidas will put together a study for the construction of a residue upgrade plant at Rijeka. The study will put forward how the plant and accompanying facilities will be integrated into the existing refining systems.
INA will invest more than HRK 200 mln in this phase of the project across this year and next.
INA chairman Zoltán Áldott said the whole upgrade project, involving the construction of a heavy metal processing plant, will cost around HRK 3 bln and will be the biggest investment yet made in Croatia.
INA has already spent HRK 40 mln on the project and has acquired a construction permit for the plant, according to the companyʼs statement.
MOL holds 49.1% of INAʼs shares and exercises management rights in the company. The other major stakeholder in the company is the state of Croatia, with a small amount held by private and institutional investors.
Avg Hourly Pay Rate for Blue-collar Workers Climbs 16% in Q1
Bulgaria's Household Income, Spending Rise 20% in 2023
Job Fair and Career Prep at Corvinus Starts Tomorrow
Spago Budapest Offering Unique Sunday Brunch Experience
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
