Rosneft may start building Eastern Petrochemical Company in Dec

VLADIVOSTOK, Nov 20 (PRIME) -- Oil major Rosneft plans to start construction of its 1.5 trillion ruble Eastern Petrochemical Company in Russia’s Far East in December, the regional government said in a statement on Monday citing Eastern Petrochemical Company CEO Viktor Grebenyukov.

“We have worked with experts, and we have taken all requests into account. Now we are waiting for a decision of Rosneft CEO Igor Sechin. We plan to start construction of the facility in a month, on December 20,” Grebenyukov said as cited by the government.

The Far East Development Corporation will finance construction of infrastructure facilities for the company with more than 3.5 billion rubles to be spent on construction of a 30-kilometer power transmission line for the plant and reconstruction of a water supply inlet in the city of Nakhodka, he said.

Rosneft plans to build the Eastern Petrochemical Company in three stages and to launch the first two stages before 2022, including an oil refinery with a capacity of 12 million tonnes per year and petrochemical production capacities of 3.4 million tonnes a year. The total refining capacities of the plant stand at 30 million tonnes.

(59.6325 rubles – U.S. $1)

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