Rosneft to Upgrade Eastern Petrochemical

Oil major Rosneft will invest 1.3 trillion rubles to raise the capacity of Eastern Petrochemical Company based in the town of Nakhodka in Russia’s Pacific coast to 30 million tonnes from 10 million tonnes of oil, Prime reported on November 19, citing the company as saying in a statement.

According to Rosneft, the gross regional product of the Far Eastern Primorsk Region will grow 50% after the launch of the first and second stage of the plant.

The decision to raise capacity was made on orders from President Vladimir Putin to supply the Far East with sufficient fuel, Rosneft said.

Copyright: Prime, 2013