Russian regional oil producer Tatneft, based in the constituent republic of Tatarstan, has signed a preliminary agreement with US engineering company Fluor Corp. to build an oil refining and petrochemical complex in Nizhnekamsk, the government of Tatarstan said on its Web site.
Tatneft signed the agreement with Fluor and OAO Taneko, the project’s operator and successor to the OAO Nizhnekamsk Refinery, Monday, the government said. Investment in construction of the complex will total 85 billion rubles ($3.3 billion).
Tatarstan Prime Minister Rustam Minnikhanov said construction of the plant must be completed in 2009. Fluor was one of 10 companies bidding to be the general contractor for the project. “This is a big company that has experience in building similar projects,” Minnikhanov said.
The new complex will incorporate a refinery with capacity of 7 million metric tons of crude oil a year, a deep conversion refining plant with annual throughput of 3.5 million tons and a petrochemical plant for production of products based on aromatic hydrocarbons. (marketwatch.com)