Greece is first among EU countries in the recycling and reuse of industrial lubricant oils, said the Managing Director of Lubricants and Petroleum Corporation (LPC) Dimitrios Kontaxis on Tuesday, according to ANA.
In this context, LPC announced two business initiatives: the first concerns the launch of the new industrial grease production plant with a capacity of 3,000 tons annually, located in the central part of the LPC refinery in Aspropyrgos, with an investment of 3.5 million euros.
The second initiative relates to a joint venture with Naftal, Algeria’s largest petroleum company, with the aim to set up a blending plant in Algeria to produce 55,000 metric tons of lubricants and 5,000 metric tons of greases, an investment estimated to reach 30 million euros and is expected to be completed in 2022.
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