OMV Petrom plans to build a new bioethanol plant in Romania.
The company submitted a proposal worth $1.2 billion lei (€245 million) to the Ministry of Economy and Energy.
It has been reported that the investment planned by the oil company is a second generation bioethanol plant.
The oil company intends to build the factory in Prahova County, an area that is traditionally important for the oil industry.
Petroleum that is sold at forecourts in Romania must contain 8% bioethanol blends.
OMV Petrom is the largest energy company in south east Europe, with an annual crude oil and gas production at group level of 55.4 million barrels of oil equivalent (boe) in 2019.
The group has a refining capacity of 4.5 million tonnes per year through the Brazi refinery, and operates the 860 MW combined cycle gas-fired power plant in the city.
In the retail petroleum products distribution market, the group is present in Romania and neighbouring countries through 800 petrol stations under its two brands - OMV and Petrom.
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