Tatneft mulls borrowing of US$2.7 bln for petrochem complex

22-Feb-06

Tafnet could borrow up to US$2.72 billion in Russia and abroad to build an oil refining and petrochemicals complex in Nizhnekamsk, Shafagat Takhautdinov. The total investment outlay for the complex is estimated at US$3.2 billion. Zenit bank will act as Tatneft's financial advisor. The Nizhnekamsk complex will include an oil refinery with a capacity of 7 million tpa of oil, construction for which is to be completed in 2008; a deep refining unit with a fuel oil capacity of 3.5 million tons, scheduled for completion in 2009, and an aromatic petrochemical plant scheduled for completion in 2010.