Viru Keemia Grupp
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January 2024

BaltCap acquired the second largest electricity distribution operator in Estonia

BaltCap Infrastructure Fund II (BInF II) acquired full ownership in VKG Elektrivõrgud. VKG Elektrivõrgud is the second largest electricity distribution network operator in Estonia after the state-owned Elektrilevi. BaltCap sees the acquisition as holding significant potential for horizontal growth both with electricity and grid-based services.

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Preparations for the Uus-Kiviõli Mine have reached a new stage

Viru Keemia Grupp is preparing to open the Uus-Kiviõli Mine by the end of 2024, with an aboveground inclined shaft and two tunnels completed by now. In the second week of December, renovation work also started on the conveyor belt between the Ojamaa Mine and the Kohtla-Järve production territory, which will in the future be used in transporting the oil shale mined from the Uus- Kiviõli Mine to the oil shale plant.

Shale oil producer partners with Environmental intelligence platform

A new contract will connect the world’s largest shale oil producer with a real-time environmental technology platform, designed to help emissions forecasting and lessen environmental impacts. Environmental intelligence technology company Envirosuite Limited (Envirosuite) will be deploying its Industrial environmental intelligence platform Omnis under a three-year contract to Viru Keemia Grupp (VKG).

BaltCap to acquire the second largest electricity distribution network operator in Estonia

The newly launched €200 million BaltCap Infrastructure Fund II (BInF II) signed its first agreement to acquire full ownership in VKG Elektrivõrgud. VKG Elektrivõrgud is the second largest electricity distribution network operator in Estonia after the state-owned Elektrilevi. BaltCap sees the acquisition as holding significant potential for horizontal growth both with electricity and grid-based services.

The journey of Gren’s growth continues by acquiring Estonia’s third largest district heating network

Gren has signed an agreement to acquire district heating network company VKG Soojus AS operating in the North-East part of Estonia in the towns of Jõhvi and Kohtla-Järve.

Viru Keemia Grupp and Kiviõli Keemiatööstus will turn plastic waste into oil and gas

Viru Keemia Grupp (VKG) and Kiviõli Keemiatööstus are about to implement a joint project in which they will use the existing shale oil production technology to process plastic waste into oil and gas.

Viru Keemia Grupp’s proposal: Estonia needs a climate act

The Estonian state has supported the EU climate neutrality goal and its endorsement as a regulation. In order to achieve climate neutrality, a pivotal change must be made in the organisation of the society in Estonia, i.e. in the organisation and taxation of transport, waste management, buildings, agriculture, energy, industry and forestry in Estonia. There is currently a legal vacuum in the area of climate in Estonia, which has to be urgently filled, as in order to implement the climate policy goals of the European Union, conduct must be regulated in the Estonian society both across sectors and by distributing obligations to specific sectors.

Viru Keemia Grupp to start exploring the possibility of establishing a bioproducts production complex in Ida-Viru County

Viru Keemia Grupp (VKG) is initiating a local government special spatial plan intending to explore the possibilities of establishing a modern bioproducts production complex in Ida-Viru County to create added value for pulpwood generated in Estonia and produce bioproducts and renewable energy. The expected volume of investments is 800 million euros and production would start to operate in 2026 at the earliest.

A study: the production of shale oil can create more than 8 billion euros worth of national wealth in the coming 20 years

An in-depth analysis conducted by research company KPMG shows that the production of shale oil could create more than 8.2 billion euros worth of national wealth for Estonia in the coming twenty years. The study was commissioned by the Estonian Chemical Industry Association and its aim was to determine the impact of the European climate policy on the competitiveness and long-term sustainability of the sector. According to the conclusions of KPMG’s experts, the concern of the companies in the sector is not unfounded and they give the policy-makers a clear understanding of the choices which the Estonian society faces and what kind of a financial impact the adopted decisions will have.

VKG to enter the US market with a unique product

After a registration process that took nearly five years, Viru Keemia Grupp (VKG) gained the right to sell its unique oil shale chemistry product Honeyol™ in the US market from July this year. Honeyol™ is used, for instance, in the tyre and leather industries.

Viru Keemia Grupp to suspend work in a production unit operating on external raw material

VKG will conserve one oil factory which runs on Kiviter technology and operates on raw material purchased from outside the Group. The production units to which VKG supplies raw material from the Group’s Ojamaa Mine will continue operating in the current mode and at the current production volume. At the moment, 11 people are engaged in operating the factory to be conserved.

VKG grew its profit despite Brent decline

The sales turnover of Viru Keemia Grupp in the 3rd quarter of 2019 amounted to 57.7 million euros, which is 20% more than in the 3rd quarter of 2018. The net profit grew by 14%, reaching 7 million euros.

Preliminary design works of liquid fuel pre-refining plant have started

The agreement was concluded following the session of the Government’s Climate and Energy Committee which was held on 30 September and which supported continuing preliminary work on the project. In October, the Executive Director of the International Energy Agency (IEA), Faith Birol, presented a new analysis in Estonia, stating that demand for liquid fuels will...

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