1. National Chemical Group plans to start construction on a new chemical complex in Vostochny Port this year

    30 July, 2014

    National Chemical Group has plans to launch the construction of an industrial production complex near the port of Vostochny in the next few months. A statement to that effect was made by the company’s CEO Nikolay Sabitov during a meeting in Yakutsk chaired by Russian President Vladimir Putin and devoted to the provision of state support to investment projects and advanced development territories in the country’s Far East.

    “At this stage, we’ve completed pre-project planning, selected a site located near the port of Vostochny, and are ready to commence the actual construction effort in the next few months,” said Mr. Sabitov, according to the records of the meeting.

    The first stage of the complex will be able to produce 1 mn tonnes of commercial-grade ammonia, 2 mn tonnes of urea and 1 mn tonnes of methanol per year. It will consume 3.2 bn cubic meters of natural gas per year. Commercial-grade output is planned to commence in January 2018, with full commissioning expected to take place in March 2019. Should market conditions be favorable and sources of requisite amounts of feedstock gas be found following the start of first-stage construction, the company leaves open the possibility of launching the construction of a second stage, similar in product mix and capacity.

    The cost of construction of the first stage of the complex, including external infrastructure objects, is RUB 240 bn. Seeking to procure state funding to help it build the external infrastructure objects, the company has applied for the allocation of RUB 17 bn from the country’s budget.

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