Romania's Chimcomplex invests in green polyols manufacturing

The project's total value amounted to 2.43 million euro ($2.62 million) with 1.2 million euro in non-repayable financial assistance provided by Norway, the company said in a statement filed with the Bucharest Stock Exchange on Friday.

Polyols are one of the raw materials required for the manufacturing of polyurethane, a plastic material. The implementation of innovative technology at Chimcomplex's plant now enables the creation of green polyols, which substitute traditional petrochemical components with eco-friendlier alternatives such as castor oil, soybean oil, and palm oil.

The new production line will increase Chimcomplex's existing production capacity by 17,000 tonnes of special polyols annually, contributing to a reduction in CO2 emissions by up to 3,400 tonnes per year, the company said.

Chimcomplex started trading on the main market of the Bucharest Stock Exchange in January 2022, having moved from the AeRO segment. At end-2022, Chimcomplex employed some 1,688 people, according to the latest data from the finance ministry's website.

Its shares traded 0.71% lower at 13.95 lei ($3.02/2.8 euro) by 1247 CET on Monday, bourse data showed.

($=0.927238 euro)