Nov. 9 (Bloomberg) -- Singapore’s Tolaram Group plans to build a heat and power plant in Kehra, northern Estonia, for 30 million euros ($41 million).
The plant, to be commissioned by the end of 2014, would have an annual capacity of 108 gigawatt-hours of heat and 63 gigawatt hours of electricity produced from biomass, Sonny Aswani, the company’s managing director, said in an e-mailed statement today.
Tolaram’s local unit, Horizon Pulp & Paper Ltd., runs a packaging-paper mill in Kehra that would ensure year-round demand for the plant’s output.
The project was prepared in partnership with state-owned Eesti Energia AS, which plans to take an investment decision on the project in 2012, according to the statement.
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