“We wish to build the biggest methanol plant in Europe – nothing more or less,” Larkwater Group’s CEO Juha Mikkonen told daily Postimees. Mikkonen stressed that one of the advantages that made the company consider Estonia, is its simple tax system and the fact that reinvested profits are not taxed with a corporate income tax.
According to The Baltic Course, Larkwater has been on the lookout for a suitable location for its plant for three or four years, with Latvia, Lithuania and Poland previously on its list of options.
The location planned for the plant is Paldiski, a town known for its deep-water port, good road and railway connections. Paldiski, a town of 4,000, boasts several industrial parks and a free zone.
The planned capacity of the plant is 5,000 tons of pure methanol per day.
Larkwater Group is a global corporation with headquarters in Geneva, Switzerland. The corporation has an annual revenue of more than 10 billion euros.