Are you sure?

Öko-Line to spend Ft 5 bln on biodiesel plant

Öko-Line Kft signed a supply contract with oil and gas giant Mol Nyrt and will launch production in its biodiesel plant in Nagyigmánd, northwest Hungary, in the first quarter of 2007, business daily Napi Gazdaság reported.

Öko-Line will carry out a Ft 5 billion development in the plant, which was built in 1994 but never used. The plant will produce 50,000 tons of biodiesel a year, but as Mol will not buy the entire amount, negotiations are underway with other companies.
Öko-Line was established in 2003 for this particular project by construction companies Kész Kft and Resonator Kft, each with a 50%-50% share. It expects revenue of Ft 11 billion in 2007 and Ft 14 billion in 2008.