17 May '11
Oil giant Rosneft has announced plans to invest $177m in a project to build a petrochemical complex in Primorsky region in 2011.
The complex, to be named the Eastern Petrochemical Company, is reportedly to be built on the bank of the Japan Sea at the Yelizarov Cape outside the Nakhodka port.
The complex’s projected annual processing capacity is 5 million tons of oil, 3.5 million tons of hydrocarbon gases and 1.5 million tons of condensate.
Under plans, the plant is to process naphta and liquefied hydrocarbon gases from Komsomolsk and Achinsk Oil Refinerues, as well as Angarsk Petrochemical Factory. The complex is to specialize in production of polymers and other petrochemical products.
Under the project, the company is also to build a specialized sea terminal for transshipment of ready products for export. The main markets are the Far East and South-Eastern Asia, primarily, China.
Construction of the complex is scheduled to begin in H2 2012 and be completed in 2017.
Total investment into the project has yet to be disclosed.