The European Bank for Reconstruction and Development (EBRD) and local lender BCR have extended a USD 38.7 mln loan to local firm Green Oil & Lubes for building a waste-oil recycling plant in Oltenita, Calarasi county. The total investment amounts to USD 56 million.
The plant will have a processing capacity of 73,000 tons per year. It will regenerate used lubricant oils and turn them into base oils for sale and reuse in the automotive and other industrial sectors.
Indian engineer and investor,the group of companies will contribute to the investment program by USD 26 million, while the remaining USD 30 million will be secured by investment long term loan equally granted by the EBRD and BCR...
The plant will create about 70 new jobs.