Ethylene stage of Tatarstan economy development
Nizhnekamskneftekhim and Gemont have announced plans to build the EP-600 olefin complex by July 2023. There, up to 600 thousand tons of ethylene per year, 270 thousand tons of propylene, 248 thousand tons of benzene, 89 thousand tons of divinyl and other semiproducts are going to be produced.
By the middle of 2021, about 6,000 people will work on the site. The construction and installation works are to be completed by July 2023.
29 companies from different countries, including India, China, Korea, Turkey and Japan, laid claim to implement this project in Tatarstan.
“It is neither just an ambitious project for Nizhnekamskneftekhim, nor just the expansion of the range of products and increase in capacity, but a sure step towards the development of industry and the strengthening of the Russian economy. The Republic of Turkey is our long-standing trusted partner and I am sure that everything will be done competently and on time. I wish all of us every success in the implementation of an important project for the economic prosperity of our republic,” said Taliya Minullina, the Head of the Tatarstan Investment Development Agency.
PJSC Nizhnekamskneftekhim is one of the largest petrochemical companies in Eastern Europe; it dominates the business among domestic manufacturers of synthetic rubbers, plastics and ethylene. The company was founded in 1967. The company’s portfolio holds more than 120 products. The products are exported to 50 countries in Europe, America and Southeast Asia. The export share in the total output is about 50%.
Gemont is one of the leading companies in Turkey for the construction of industrial facilities. It was founded in 1991. It has track record in construction and installation works in similar scale projects, including experience in the construction of TAIF Group of Companies (including the Heavy Residues Advanced Refining Unit).