March 14 (SeeNews) - Croatia-based construction materials producer Nexe said on Tuesday that it will carry out a project worth an estimated 400 million euro ($429 million), which envisages the construction of a new production line for clinker and enables transportation and storage of CO2.
The new line will enable CO2 neutral and cost-efficient production of cement in the period from 2029, Nexe said in a statement on its Facebook profile.
The project, one of the largest planned investments in Croatia’s industry, opens up opportunities for revenue generation from the transportation and storage of CO2 from Croatia and the region, it added.
The company also said it will seek financing from the European Union’s Innovation fund for the project.
As part of the project, on Tuesday Nexe signed with international industrial group Thyssenkrupp Industrial Solutions a deal for the design and construction of the new production line. The value of the deal was not disclosed.
Business daily Poslovni Dnevnik reported on Tuesday that the new production line will be located at the company's new factory in Nasice, in eastern Croatia. The project envisages that 700,000 CO2 will be transported by a pipeline and stored at the Bockovci-1 location in order to to produce CO2 neutral cement, according to the daily.
($ = 0.932 euro)