TOP ESTONIAN ENTERPRISES

Nominees for the Entrepreneurship Award 2009
Enterprise Established Private capital Private capital Owners' equity Sales Change in sales Net profit Investment to Employees Sales per
Estonia (%) foreign (%) 2008 (EEK) 2008 (EEK) 2008 compared 2008 (EEK) fixed assets 2008 employee
to 2007 (%) 2008 (EEK) 2008 (EEK)
FLOW SERVICE OÜ 2005 100 0 4,355,896 18,443,773 11.6 1,112,920 0 19 970,725
NARVA MUUSEUM 1865 0 0 n/a 2,045,746 n/a n/a n/a n/a
VKG OIL AS 1999 100 0 1,324,923,000 1,492,343,000 2 573,136,000 994,186,000 604 2,470,767
ABB AS 1996 0 100 506,000,000 2,570,000,000 51 147,000,000 260,000,000 1,069 2,404,116
MODESAT COMMUNICATIONS OÜ 2005 51 49 3,615,203 1,359,842 -49 -2,411,710 2,248,517 604 2,251
www.konkurents.ee
1 EUR = 15.6466 EEK; 1 EEK = 0.0639 EUR; based on 2008 data
Entrepreneurship Award 2009 – Main Prize
VKG OIL AS
Exporter
2009
The billion
plant of VKG
Oil allows
the higher
valuation
of oil shale
In these days Kohtla-Järve is in anticipation –
VKG Oil soon launches the brand new shale oil
plant with the cost of 1.1 billion kroons.
In autumn 2008 when the economic crisis already
ravaged the Estonian companies, Jaanus
Purga, the development director of Viru Keemia
Grupp, stated in the same yearbook that crisis
has not yet reached Kohtla-Järve. He talked
about several new ideas, e.g. the production of
cement and diesel fuel.
Now, a year later, the situation has changed.
Some plans have been temporarily frozen, so
that the subsidiary VKG Oil could terminate the
construction of the oil plant started at the top
of the economic boom by the deadline. In a couple
of months the latter works on mine waste
for testing, thereafter on oil shale.
“You can stop the repairs at home. You postpone
it, no problem. But such construction as oil
plant cannot just be stopped,” Nikolai Petrovitš,
the chairman of the management board of VKG
Oil, says.
The macroproject involves approximately hundred
companies and half a thousand persons
from several different countries – from Finland,
Germany, Russia, Switzerland etc besides Estonia.
Petrovitš: “Imagine that this mechanism
will stop even for a week .. the restoring of the
working pace would be practically impossible!”
According to him the launching of the plant
should surely take place in autumn, not during
winter frost.
Last year VKG Oil had several problems. “It was
really difficult from last autumn up to this
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