To build a biorefinery in the central town of Sisak, INA aims to invest $282.4 million (250 million euros) to help reduce its carbon footprint. Strategic project approval has been applied by the company at Croatia’s ministry of economy and entrepreneurship. INA’s biggest shareholders are the Croatian government and Hungary’s energy group MOL.
Two refineries owned by INA, one in Sisak and one in Rijeka. A deal with Axens signed by INA in February, awarding the French group the basic engineering design for advanced bioethanol production and the licence to supply cellulose ethanol technology. A deal with De Smet Engineers & Contractors (Belgian firm) also signed last year.
INA is also seeking European Union funding to reduce emissions to zero by 2050. Talks with MOL expected by Croatia to start by the end of June on a possible buyback of INA shares.
