CEO says CPC plans 2023 investment program at $300 mln

ST. PETERSBURG, Jun 22 (PRIME) – The Caspian Pipeline Consortium (CPC) will invest U.S. $300 million in 2023, CEO Nikolai Gorban told PRIME on Thursday in the framework of the St. Petersburg International Economic Forum.

"About $200 million are assigned this year to complete a program of bottleneck removal. The investment part on the current operating needs… has traditionally taken about $100 million. This way, you can add up our investment spending," Gorban said.

The bottleneck removal program consists of several projects in Russia and Kazakhstan aimed at optimizing the current capacities of the pipeline system. The program will allow the company to raise oil transportration to 82 million tonnes per year.

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