Hungarian chemicals company Nitrokémia signed an agreement with Estonian peer NordBioChem to build a Ft 80 bln lactic acid factory in Balatonfűzfő.
Nitrokémia CEO Árpád Bakonyi said NordBioChem had won a €900,000 grant to use for building an environmentally-friendly lactic acid plant. He added that the company chose Hungary for the site because of its big wheat surplus. Wheat is used to produce lactic acid. Construction of the plant will start in 2009 and be completed in 2012. It will employ 450-500 people, half of them chemical engineers. The plant will use an annual 200,000 tons of wheat. (Bloomberg)