Nizhnekamsk Refinery launched!

On December 11, the Reefinry base complex was officially commissioned in Nizhnekamsk . President of Tatarstan Mintimer Shaimiev, Prime Minister Rustam Minnikhanov, other guests of honour took part in the grand ceremony.

OAO "Nizhnekamsk Refinery" was created on December 30, 1997. The main investor of the project is OAO "Tatneft" (about 67%). The refinery construction is carried out in two stages: the base complex and the complex of deep oil refining.

The base complex is designed to process 7 million tons of oil per year with the depth of 46%. 10.8 billion rubles of capital investments were attracted to the construction of the base complex, including Tatneft's investments that totalled 6.67 bln rubles.

The second stage of construction is estimated up to 2008. Feasibility report for the second stage worth $1.1 billion was developed by the American company "ABB Lummus Global Inc" and OAO "Hyprorubber". Recovery term of the project should make 7 years, profitability - 13%. The first processing line is designed for processing of up to 50% of high-sulphur oil with finishing depth of up to 74%. The second line will process 100-percent carbon oil with the depth of 82%. The adviser for the second stage managing is the firm Foster Wheeler France - French branch of the world famous transnational company Foster Wheeler.