The agreement on budgeting financial support to AB “GrigiÅ¡kÄ—sâ€� project is signed

Grigiskes AB / 

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On the 31st of August 2009 AB “Grigišk?s“, ministry of economy of the Republic
of Lithuania and Lithuanian Business support Agency has signed the agreement on
budgeting the financial support to the project „The modernisation of the heat
sector through the greater use of renewable energy resources“. The aims of the
project are to increase competitiveness of production and the usage of waste of
the manufacturing process for the production of energy. During the
implementation of the Project the new steam-boiler with the heating power of
15-18 MW using bio fuel is intended to be installed. The heat produced by the
new steam-boiler will replace the heat produced by the existing natural gas
steam-boilers. It is planned that the new bio fuel steam-boiler will produce
about 55 percent of heat (in the form of steam) needed for the technological
processes in the company. The total value of the Project is 19.1 million Lt, of
which 9.4 million Lt is the support of European Structural Funds and the budget
of the Republic of Lithuania. 


Gintautas Pangonis
General Director
(+370-5) 243 58 01

News Source: NASDAQ OMX

31.08.2009  Financial News transmitted by DGAP
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Language:     English
Issuer:       Grigiskes AB
              
               
              Lithuania
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         LT0000102030
WKN:          
 
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