PRESS RELEASE 6 Jun 2007
PÖYRY AWARDED ASSIGNMENT IN L&T RECOIL OY'S OIL REGENERATION PROJECT IN FINLAND
Pöyry has received an assignment by L&T Recoil Oy in their oil regeneration project to be implemented in Hamina, Finland. Pöyry's assignment comprises the engineering services for the project. The value of the assignment is EUR 1.5 million.
The total investment cost of the Hamina oil regeneration plant is over EUR 20 million. The plant will be completed at the beginning of 2008 and will have a capacity of 60 000 t/a. The regeneration plant will produce base oil for the lubrication industry from various waste oils. By-products of the process are, for example, light fuel oil and bitumen.
The raw material for the plant will be collected in the Baltic Sea countries; some 30 000 t/a is generated in Finland. The plant greatly improves the recycling of waste oils in Finland. Regeneration of waste oils is defined as the ultimate form of recycling, i.e. re-use of waste, in the recycling hierarchy of the EU's waste strategy.
This assignment strengthens Pöyry's position as a service provider to the chemical industry. The implementation of the project will focus on environmental issues and safeguarding sustainable development. For several years, L&T has invested in recycling of hazardous wastes, and its oil regeneration project is a natural step forward in the refining chain of waste materials.
Pöyry is a global consulting and engineering firm focusing on the energy, forest industry and infrastructure & environment sectors. Pöyry's net sales in 2006 amounted to about EUR 620 million and it employs 6400 experts.
Vice President, Corporate Communications
and Investor Relations
Additional information by:
Jarmo Suominen, President, Business Area Chemical Industry
tel. +358 10 33 22200
Mikko Vuorio, Executive Vice President, Pöyry Engineering Oy
Tel. +358 10 33 23800