OREANDA-NEWS. An Investment Agreement for the investment project "Oil Refining and Petrochemical Plants Complex in Nizhnekamsk" has been signed in Moscow. The Investment Agreement has been signed by I. V. Romashov, Head of the Federal Agency of the Railway Transport ("Roszheldor), V.M. Shchadov, Interim Head of the Federal Energy Agency (Rosenergo) and N. U. Maganov, Deputy General Director of OAO TATNEFT for crude oil and petroleum products sale.

The 130.3 billion rubles worth project of OAO TATNEFT pursuing the construction of the Oil Refining and Petrochemical Plants Complex in Nizhnekamsk is one of the largest in Russia as of today. The facilities will meet the challenge of efficient processing of sour hydrocarbon raw materials and thereby improve the quality of Russia's oil exports.

OAO "TANEKO (the successor to the OAO Nizhnekamsk Refinery) is the operator of the construction project. The Security Council of the Republic of Tatarstan has appointed Tatneft Company as a coordinator of the complex construction project

The new complex will incorporate a refinery with capacity of 7 million tonnes of crude oil per year, a deep conversion refining plant with annual throughput of 3.5 million tonnes and a petrochemical plant for production of the products based on aromatic hydrocarbons. The construction completion has been planned for the years 2009 - 2011.

In 2006 the State Investment Commission decided to allocate 16.5 billion rubles from the Investment Fund of the Russian Federation for the construction of the complex infrastructure, including the reconstruction of the product pipelines 128 km long, construction of the pipeline (117.3 km long), and external rail tracks with the total length of 28.5 km.

Commissioning of a new refinery has been planned for the year 2009 in the framework of the complex construction. Application of proven technologies tested at the overseas refineries, highly reliable equipment and the latest innovative approaches to solving environmental problems will ensure the highest level of the industrial, environmental and fire safety. After attaining the design capacity by the end of 2010, the refinery will process up to 7 million tons of sour crude oil annually and yield 2.66 million tons of diesel fuel and 0.85 million tons of gasoline. The quality of the refinery products will meet Euro-5 standards.
 
Production planning. 20 types of the deep conversion refining products starting with the European quality motor fuels to a wide range of highly demanded petrochemical products. This will fully satisfy the needs of the own oil retail network of Tatneft in petroleum products with a number of Tatneft's filling stations growing by 300 units  in Russia only in the coming years, and provide high-quality products for the Russian industry.