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"Asphalt Lake Recovery is active in the exploitation of the asphalt lake at Buska bay since July 2006 by converting the refinery’s ‘lake’ of dumped oil residues into internationally traded usable oil products.
The Buska bay lake so far has made an investment of Naf. 14 million. In 2010 we will pump an additional Naf. 2 million into the company.
The tax holiday is an incentive offered by the government, which to us was a very attractive and a determining factor in getting the necessary funding for our operation.
We look forward to a steady growth during the next five years. Our operations include the cleaning up of the Asphalt Lake and bringing to the island the environmental benefits this carries with it. However, we intend to broaden the scope of our operations to include soil remediation and waste recylcing in and around the local refinery. With that expertise in house, we will be able to grow internationally, by offering our services to refineries and other industries all over the world."
Asphalt Lake Recovery