Tatneft to decide on building 2nd refinery for Taneko in 1-2 yrs
KAZAN. Dec 27 (Interfax) - Plans call for a decision regarding the building of a second oil refinery with 7 million-tonne capacity for OJSC Taneko in the next year or two, the president of Tatarstan and chairman of the OJSC Tatneft board of directors, Rustam Minnikhanov, told reporters on Saturday.
"In principle, there are no impediments to starting [the construction]. It will be a copy of the refinery that has already been built. I think that in the next year or two we will determine when we will begin building. That will be linked to investment opportunity. The refinery will require serious investment," Minnikhanov said.
It will take about $5-$6 billion, he said. As to possible partners for the project, he said, "We are discussing it, but there are no serious offers yet."
Deputy Prime Minister Igor Sechin has tasked Tatneft with increasing Taneko refining capacity to 14 million annual tonnes.
The complex's first production line - with its 7 million tonnes per year capacity - is expected to reach normal technological operations with the beginning of next year. It has been operating in testing and adjustment regime since October.