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LUKoil to set up largest ethylene production complex
05 Aug '08
1 min read
The biggest independent crude producer in Russia, LUKoil, has plans to invest US $2.96 billion for the construction of an ethylene plant in Stavropol territory, south of the country.
Official sources from the company informed Fibre2fashion that the project may start construction by 2009 and will produce 600,000 tons of ethylene. This ethyelene will be used to further produce 200,000 tons of high-pressure polyethylene, 300,000 tons of low-pressure polyethylene and 100,000 tons of glycol. Besides, it will also manufacture 136,000 tons of polypropylene and some other chemicals.
An agreement in this regard was reached on July 29 between Mr Valery Gayevsky, Stavropol Territory Governor and Mr Alexei Smirnov, head of petrochemicals arm of LUKoil-Neftekhim.
Construction of the plant would take anywhere between four and five years, generating employment for about 1,500 people. Besides, on completion, the project would give way to the largest production complex in Russia and Eastern Europe accounting for 30 percent of the polymers produced in the country.
Official sources from the company informed Fibre2fashion that the project may start construction by 2009 and will produce 600,000 tons of ethylene. This ethyelene will be used to further produce 200,000 tons of high-pressure polyethylene, 300,000 tons of low-pressure polyethylene and 100,000 tons of glycol. Besides, it will also manufacture 136,000 tons of polypropylene and some other chemicals.
An agreement in this regard was reached on July 29 between Mr Valery Gayevsky, Stavropol Territory Governor and Mr Alexei Smirnov, head of petrochemicals arm of LUKoil-Neftekhim.
Construction of the plant would take anywhere between four and five years, generating employment for about 1,500 people. Besides, on completion, the project would give way to the largest production complex in Russia and Eastern Europe accounting for 30 percent of the polymers produced in the country.
Fibre2fashion News Desk - India
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