OAO "Taif" has declared the official beginning of construction of a plant of deep oil refining
10 November 2003, Monday
Construction of the plant is conducted by the OAO "Taif". Experts of the OAO «Taif» and Russian institute for oil refining OAO VNIPI «Petroleum» (Moscow) have developed the project for 6 years.
According to director general of the OAO "Taif" Albert Shigabutdinov, building and assembly works will begin in May next year. The construction is completely financed by the OAO "Тaif"; cost of the complex makes $76 million. The plant is scheduled to be constructed during 2-2.5 years.
IA "Intertat", November 10, 2003
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