Company news in July 2004 | |||
Ukrainian Lisichansk Refinery Launch $15 Million New Bitumen Production Equipment
The Lisichansk refinery (Ukraine), the refining capacities of which are owned by TNK-BP international holding, launched a $15-million new bitumen production plant on July 8, the PR Directorate of TNK-BP Ukraine informed. The bitumen plant construction was one of investment commitments during TNK's privatization of the refinery. Construction was completed just on time, upon better financial conditions that those envisaged in the agreement for the enterprise's share purchase. Because the cutting-edge laboratory and operating equipment was purchased for the plant, the final cost of this project came to $ 15 million, of which $10 million was invested under investment commitments to the Ukrainian state property fund. By the end of 2004, the refinery plans to manufacture some 90,000 tons of bitumen. The plant will reach its rated capacity of 375,000 tons of road and construction bitumen a year in 18-24 months. The enterprise expects to account for some 15% of the Ukrainian bitumen market at the initial stage.
Source: PRIME TASS