19 Apr 2023 15:53

FESCO and INK agree on transport of products throughout Russia and to Southeast Asia

IRKUTSK. April 19 (Interfax) - The FESCO Transportation Group and the Irkutsk Oil Company have signed a cooperation agreement for the transportation of INK products in Russia, as well as to the countries of Southeast Asia, the press service of the oil company reported.

"The parties will also work out logistics solutions for organizing the supply of industrial equipment and bulk heavy cargo intended for the implementation of the gas chemical cluster in Ust-Kut, Irkutsk Region," the report says.

As reported, INK has been implementing its own gas project in the north of the Irkutsk region since 2014. Earlier, INK values the entire project at 450 billion rubles. In 2024, the company intends to commission the Irkutsk polymer plant in Ust-Kut, which is part of the third stage of the gas project.

The Irkutsk Oil Company is one of the largest independent hydrocarbon producers in Russia. The company was established in 2000, performs geological surveys, exploration and development of 53 subsoil plots in the Irkutsk Region, Krasnoyarsk Territory and the Republic of Sakha (Yakutia).

The FESCO Group (parent company - Far Eastern Shipping Company , FESCO) is a major Russian port operator which includes a rail and logistics business. It manages a container fleet of more than 130,000 TEU, and a fleet of fitting platforms of over 10 thousand units. The group's fleet consists of 26 vessels, operated mainly on its own shipping lines.