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Home » News » LUKOIL found an investment center to finance production streamlining
27.07.2006

LUKOIL found an investment center to finance production streamlining

 

The administration of LUKOIL JSC has decided to create an investment center on the basis of LUKOIL Volganefteprodukt JSC. The new center  will make construction orders on a viscosity breaking plant and  deep oil processing complex to be carried out  at LUKOIL-Nizhegorodnefteorgsintez facilities.

LUKOIL-Volganefteprodukt JSC is to finance setting up of these plants  with its own funds and loan funds within the framework of  LUKOIL modernization project.  The new  viscosity breaking plant and  deep oil processing complex will belong to LUKOIL-Volganefteprodukt and be the part of LUKOIL- Nizhegorodnefteorgsintez process flow.

The foundation of the investment center  was caused by the necessity to improve
LUKOIL-Nizhegorodnefteorgsintez's financial position without borrowing money. At the
annual stockholders meeting of LUKOIL-Nizhegorodnefteorgsintez JSC shareholders
were against taking loans for the enterprise's modernization. Thus, according to
LUKOIL JSC, the investment center on the basis of LUKOIL-Volganefteprodukt JSC will guarantee the financing of the viscosity breaking plants and deep oil processing complex's building at LUKOIL-Nizhegorodnefteorgsintez JSC.

 

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