19 Mar '10
Rostov region-based Novoshakhtinsk Refinery intends to invest $50m in its development, news agency RIA Novosti reports.
Under the project, the funds are to be used to build a bitumen unit with annual capacity of 350,000 tons.
As a result of investment, the oil processing depth at the refinery is to be increased from 54% to 75%, the firm said.
The project is scheduled to be carried out in 2010 – 2012.