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Oil & Gas / Petrochemical

Rosneft to invest $5.36 billion in new petrochemical plant

September 06, 2012
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MOSCOW — Rosneft, Russia’s state-owned oil company, plans to invest $5.36 billion to build a petrochemical plant near the country’s borders with China and North Korea, Reuters reported.

The plant will be located in Vladivostok, which is situated at the head of the Golden Horn Bay and is home to Russia’s largest port on the Pacific Ocean.

CEO Igor Sechin said the plant will produce 3.6 million tons of petrochemical products per year starting in 2017.

RELATED: GE, Rosneft to jointly pursue oil and gas opportunities

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