14 Oct 2016 16:35

Investments in NIS to total around 1 bln euros in 2017-2019

BELGRADE. Oct 14 (Interfax) - Investments in Gazprom Neft's Serbian subsidiary NIS will total around 1 billion euros in 2017-2019, NIS CEO Kirill Kravchenko told journalists.

The company's financial director, Anton Fedorov, said that $400-450 million would be allocated toward upstream, $400 million toward refining $150 million toward sales and $50-$70 million in electricity and other projects. Kravchenko said that in the current situation, the currency denomination "was not that essential and critical for the company."

Kravchenko also said that the company was actively raising project financing, in particular, for electricity projects.