Drilling rig arriving on site of project in St. Gallen, Switzerland
The drilling rig of ITAG is arriving at the project site for a geothermal power and heating project by the city of St. Gallen in Switzerland.
Reported last week, the drilling rig is arriving on the geothermal project site in St. Gallen, Switzerland.
The drilling company ITAG is currently transporting about 100 container loads to the project site and a drilling start is expected for March 2013.
The project by the city of St. Gallen aims to drill to a depth of about 4,500 meters and produce water of 140-150 degrees Celsius. Drilling is expected to show first results and allow for circulation tests in July this year.
The drilling is insured by Swiss-Grid under an exploration risk insurance for a total amount of CHF 24 million ($26 million).
The project aims to provide both geothermal electricity and heating to the city of St. Gallen in Northern Switzerland. The district heating system is expected to cost about CHF 83 million ($90 million). The citizens of St. Gallen have voted for a loan to the project by the municipality in the amount of CHF 159 million ($172 million).