Are you sure?

Mol spending Ft 1 bln for geothermal power plant feasibility study

Hungarian oil and gas company Mol is spending Ft 1 billion to investigate the possibility of building a geothermal power plant near Iklodbordoce, in southeast Hungary, project leader Attila Kujbus told MTI on Friday.

Depending on the results of the research, Mol could build at power plant with a 3-5 MW capacity at the site by 2009, Kujbus said. The plant would be the first of its kind in Central and Eastern Europe. Mol is financing the project with a consortium in which it holds, 36%, Hungary's Vulcan has 32% and Iceland's Enex owns 32%. The plant, if built, is expected to cost Ft 3 billion - 4 billion, which the investors could recoup in ten years, Kujbus said. (Mti-Eco)