Lukoil Neftochim Burgas Refinery Builds Heavy Waste Treatment Complex

Business » ENERGY | April 24, 2014, Thursday // 12:39
Bulgaria: Lukoil Neftochim Burgas Refinery Builds Heavy Waste Treatment Complex Photo by EPA/BGNES

An investment of USD 1.5 B will go to the first stage of the construction of a heavy waste treatment complex at the Bulgarian Lukoil Neftochim Burgas refinery.

The investment was announced by the government's press office on Wednesday after a meeting of Prime Minister Plamen Oresharski with Vagit Alekperov, President of Russian energy giant Lukoil.

Oresharski referred to the waste treatment complex at Lukoil Neftochim Burgas as a good investment.

The construction of the facility is to be wrapped up in 3 years and is to directly involve a total of 2000 people, according to reports of the Bulgarian National Radio (BNR).

Taking into account the entities which will conduct the preparations for the installation of the facility, the total number of jobs exceeds 3000.

A number of activities related to the designing, transport, logistics, and production of parts and equipment, are to be carried out by Bulgarian subcontractors.

The completion of the next stage of the project, the construction of a vacuum gas oil hydrocracking installation, may turn the Burgas-based refinery into a global leader in energy and production efficiency, taking into account that there are only 6 countries in the world which have functioning installations of this kind, including Mexico, US, Canada, Poland, Japan and Kuwait.

"The construction of the new plant of Lukoil in Burgas not only creates a better economic outlook for the different regions in Bulgaria but it also has a positive impact on the positioning of the country as an exporter of fuels," said President Rosen Plevneliev at a meeting with the management of the company Lukoil.

Plevneliev, as cited by the press office of the President, emphasized that Bulgaria was interested in encouraging investments and export as economic growth drivers amid diminished domestic consumption and the conditions of an economic crisis.

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Tags: Lukoil, Lukoil Neftochim Burgas, refinery, Plamen Oresharski, Bulgarian Prime Minister, Bulgarian President, Rosen Plevneliev, Vagit Alekperov, hydrocracking

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