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Home / News / Lukoil to set up PP plant at Nizhny Novgorod Refinery

Lukoil to set up PP plant at Nizhny Novgorod Refinery

02
Aug '19
Pic: Lukoil
Pic: Lukoil
Lukoil, one of the largest publicly traded, vertically integrated oil and gas companies in the world, has made an investment decision to set up a polypropylene (PP) plant at the Nizhny Novgorod Refinery. The Russian company accounts for more than 2 per cent of the world's oil production and around 1 per cent of the proved hydrocarbon reserves.

"The investment decision has already been made to build a polypropylene plant with the provisional capacity of 500,000 tonnes. We have our own feedstock, and this [production] will be intended for exports in particular," Russian news agency quoted Lukoil CEO Vagit Alekperov as saying.

The Russian oil major has presence in 30 countries spread across four continents with 2018 revenues of 8 trillion rubles. (RKS)

Fibre2Fashion News Desk – India

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