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Public investor support is operational in Kuban

Today Veniamin Kondratyev, Governor of Krasnodar region, and Vladimir Kogan, President of a Group of companies "Neftegasindustry" incorporating Afipsky oil refinery, have signed an investment agreement governing the plant upgrading project implementation process.  

By virtue of the concluded agreement, an investor could take advantage of the property tax relief upon commissioning of the facility, as reported by the Press-Service of the head of the administration (governor) of Krasnodar region.  The total value of the project on construction of a combined vacuum distillation and tar visbreaking unit amounts to 15 billion rubles, of which 4 billion rubles has already been spent. It is expected to complete the project in 2016. The production upgrading will enable to create no less than 70 new workplaces at the enterprise.

As a reminder: LLC "Afipsky Oil Refinery" has been implementing an upgrading program. The basic stream is to construct a hydrocracking complex. It will enable to increase the oil refining efficiency up to 80%. The implementation of the program provides for three stages. The first stage is the construction of PM-3 residue conversion unit, the second – the construction of AT-3 atmospheric distillation section and the third – construction of a hydrocracking & hydro-treatment complex with general auxiliary units and off-plot facilities. It is expected to complete the upgrading program in full in the year 2017.         

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Source - Investment portal of Krasnodar region