Kingiseppsky, one of Russia's largest petrochemical producers, plans to invest up to €8 bln in building a large petrochemical facility close to the city of Kingisepp, in the St. Petersburg region of Russia, as per Europeanplasticsnews.com. The capacity of the plant will be one million tonnes of petrochemical products. The complex will process up to 12 mln tpa of crude oil and, in addition to petrochemical products, will make diesel and jet fuel.
The company anticipates inviting global caompanies to establish production at the new cluster. So far, it has opened negotiations with US-based Huntsman Corporation, Japan’s Mitsui, the Korean conglomerate LG Group, and German giants Bayer and BASF.