Russia’s NefteKhimServis to build 2nd stage of refinery 2016–2018

NOVOSIBIRSK, Mar 21 (PRIME) -- The government of Russia’s Kemerovo Region and local company NefteKhimServis have signed an agreement to construct a second, 30 billion ruble stage of the Yaya Oil Refinery in 2016–2018, the government said in a statement Monday.

The project’s cost includes borrowed funds, and it is expected to break even in six years, the government said.

Previously, a spokesperson for NefteKhimServis told PRIME the second stage will double the plant’s capacity to 6 million tonnes a year and increase processing depth to 92%, which will allow the company to produce diesel and gasoline of the Euro 4 and Euro 5 emission standards.

(68.4026 rubles – U.S. $1)

End