Lebanon Businessnews News
 

Factory for producing oil derivatives in Koura
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Ouvrage, a new company that recycles rubber and oil and produces oil derivatives and electricity is expected to open in Kousba, Koura in the coming months.

Raymond Mitri, major shareholder, said that construction will start once they receive the remaining funds to proceed and should take three months to complete. Investment in the project is $5 million. The total space of the land is 1,500 square meters and the built-up area is 800 m2.

Mitri will use a new technique to recycle rubber and oil, without causing emissions or pollutants, by transforming them to oil derivatives that can be used in asphalt, paints, and plastic products. “The factory will not produce any waste,” he said.

The initial annual production capacity will be 30,000 tons of recycled rubber and oil and the same quantity of oil derivatives.

Mitri invented the new recycling technique and designed the equipment himself, part of which will be implemented in Europe. “We are in the process of gaining a patent from the Ministry of Economy and Trade for this innovation,” said Mitri.

Ouvrage has received a license from the Ministry of Industry to operate the factory.

The factory will create around 30 full time jobs in the first stage. Mitri said that the company will cooperate with universities for research and development. “We will give undergraduates the opportunity to train, develop their skills, and we will provide jobs for them,” he said.

Mitri said that they have signed a contract with European companies to export the oil derivatives.
Reported by Rania Ghanem
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Date Posted: Jun 10, 2015