Nayara Energy Limited, 49.13% of which is held by Rosneft Oil Company, is working on a milestone programme for development of its Vadinar refinery, the media release says. The first phase of this project includes construction of new units with the annual capacity of up to 450,000 t of polypropylene. It is to be completed in 2022.
The first phase preliminary cumulative investments amount to $850 million. The programme is currently undergoing an economic evaluation upon results of which a final decision on the project implementation is to be made during 2019.