ADVERTISEMENT

LUKoil considers $3 bln ethylene plant in south Russia

Pharma

LUKoil, Russia’s largest independent crude producer, could invest $3 billion in the construction of an ethylene plant in south Russia’s Stavropol Territory, the regional governor’s press office said on Wednesday.

An agreement on the plant, to produce ethylene and ethylene products from hydrocarbons extracted in the northern part of the Caspian Sea, was reached on Tuesday evening between Stavropol Territory Governor Valery Gayevsky and Alexei Smirnov, the head of the oil giant’s petrochemicals arm LUKoil-Neftekhim.

According to the press office, Smirnov said during the meeting that the project would create the largest production complex of its kind in Russia and Eastern Europe, producing 900,000 metric tons of polyethylene and 300,000 metric tons of polypropylene annually, or about 30% of polymers produced in the country. The construction of the complex would take between four and five years and employ about 1,500 people, the press office said. (rian.ru)

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.