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16:00, 17 September 2011

"Lukoil" to start petrochemical complex in Stavropol Territory

In October, one of the largest privately-owned Russian oil companies – the Open Joint-Stock Company (OJSC) "Lukoil" – plans to lay the "first stone" of the future petrochemical complex in the Stavropol Territory.

"Since it is South of Russia, where employment is topical, the construction of this complex is extremely important," said "Lukoil" President Vagit Alekperov.

He reminded that the company is already operating a chemical factory in Budyonnovsk. The new complex is focused on the gas, which will be extracted from the northern part of the Caspian Sea.

The new facility will receive, purify and treat the arriving raw materials, and manufacture polyethylene and polypropylene, the head of the "Lukoil" explained to the "Russia-24" TV Channel.

Besides, the OJSC "Lukoil" will invest more than 7.7 billion roubles into construction of a source of cogeneration power based on the modern steam-and-gas technology in Budyonnovsk, Stavropol Territory, the "Yuga.ru" reports.

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