Chinese consortium CNCEC may take part in building TANEKO
KAZAN. Oct 13 (Interfax) - China National Chemical Engineering Co. (CNCEC) may take part in the building of a complex of oil-refining and petrochemical plants in Nizhnekamsk (OJSC TANEKO), the OJSC Tatneft press service said.
A memorandum of mutual understanding was signed on October 11 by Tatneft's general director, Shafagat Takhautdinov, and the chairman of the CNCEC board of directors, Tszin Kenin. The memorandum stipulates that the parts will define terms for possible mutual efforts based on the needs of future TANEKO development.
CNCEC has concluded contract for the construction of another major asset in Tatarstan - OJSC Ammonia, which produces mineral fertilizers - in a consortium with Mitsubishi Heavy Industries and Sojitz Corp.
Takhautdinov said not long ago that the building of a hydrocracking complex at TANEKO is slated to wrap up in 2013, following which work associated with deepening processing will be done.