TAIF Group in mass-media

	29.04.2009
	*Kommersant,*
	The estimated cost of construction of heavy residue conversion complex by OJSC “TAIF-NK” is USD 2.2 billion
	Alexander Babynin, General Director of PSC “TAIF-NK” informed that the estimated volume of investments to the construction of heavy residue conversion complex of the PSC “TAIF-NK” Refinery was USD 2.2 billion. As he said, RUB 500 million had been already invested to the project at that stage; the negotiations were being conducted to attract the remaining volume of financing. Mr. Babynin said that the construction of the complex would be completed in 2014. After the commissioning of this facility PSC “TAIF-NK” would increase the volume of processing from 8.2 to 9.1 million tons and would produce fuel of Euro-5 quality. Yesterday, PSC “TAIF-NK” signed the investment agreement with the German engineering company Lurgi for supplies of the energy-saving technologies to PSC “TAIF-NK”. The construction of the heavy residue conversion complex is a part of the program of the company’s development till 2014. The refining complex of PSC “TAIF-NK” at the current stage includes the primary crude oil processing unit, the objects of the base complex of Nizhnekamsk Refinery, the facility for processing of gas condensate and production of motor gasoline.