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Mol plans geothermal plant with Australian, Icelandic companies

Hungarian oil and gas company Mol Rt will join Icelandic and Australian companies to build a geothermal power plant in Hungary, the company announced on Friday. Mol will join Australian-owned Vulcan Kft and Iceland's Enex hf to develop a geothermal power plant in Iklódbördöce, southwest Hungary, Mol said. The companies will sign an agreement March 6. The 3-5 MW geothermal plant will use thermal water to generate electricity and could start operation in 2007. Construction may start in April, the company added.