Capacity of Tver oil refinery complex is 17.5 mln tons of motor fuel and 3 mln tons of fertilizers
Rupek has got acquainted with the project of the Tver oil refinery complex at a cost of about $20 bln and publishes some details of the project.
According to the materials of project’s initiators (they are in public access) it is planned that the complex will process 15 mln tons of coal, 15.5 bln cubic meters of gas and 10 mln tons of oil.
The construction of the complex is planned to be held in 2 stages. At the first stage the project presupposes the foundation of the production capacities of synthetic motor fuels, products of organic synthesis and mineral fertilizers (the raw materials at this stage are 11 mln tons of coal a year and 10 bln cubic meters of gas). At the 2nd stage it is planned to found the production capacities of semi-synthetic motor fuels, aroma hydrocarbons and mineral fertilizers (ammonia, ammonia sulphate, ammonium nitrate, ammonium suplhate-nitrate). The raw materials for the 2nd stage will be 10 mln tons of oil, 5.5 bln cubic meters of gas and 4 mln tons of coal).
According to the project, the design and construction of the 1st stage will take 4 years, the realization of the entire project – about 6 years.
The oil chemicals complex is planned to produce 17.5 mln tons of motor fuels, 1.9 mln tons of products of organic synthesis, 3 mln tons of mineral fertilizers. The complex will also produce 16 mln MW of electric energy and more than 3 mln tons of other products.
According to the initiators of the project, the annual sales volume of motor fuels might make up $16.2 bln, products of organic synthesis - $2.2 bln, mineral fertilizers - $888 mln, electric energy - $1.2 bln.
According to the materials, 2 sources are planned to finance the project. The first one – the direct investment, i.e. the funds of the strategic investor. The 2nd one – financial investment. The strategic investor is also to provide the financial investment in the form of a bank loan.
The direct investment of the strategic investor (by September 1st 2010 on the condition of granting preferences by the Government) will make up about $6 bln, financial investment attracted by the strategic investor - $15.3 bln. The total investment volume is assessed at $26.2 bln. Without the preferences, the initiators say, the investment into the project will exceed $32 bln.
The project’s pay back will take 8.5 years (discounted – about 9 years). The organizers assess the net present value at $37 bln, IRR – 23.68% (with the absence of preferences of NPV it falls to $31.7 bln, IRR – to 18.54%).
The organizers plan to keep 35% of shares of the new enterprise, to give 40% to the strategic investor, 25% to the Government (with the absence of preferences the strategic investor might gain 49% and the Government – 15%).
Initially the project planned the complex’s location near Torzhok city,in the Tver region. The criteria of selection were, in particular, the closeness of the location of the route oil and gas pipelines, presence of developed rail way infrastructure, short haul distance to the export terminals.
The initiators of the project say that the idea of foundation of a similar complex was made orginaly by the oligarch M. Khodorkovsky. Though the foundation of such a complex will contribute to the country’s development, the Russian Government is against its realization.
The authors emphasize the deep level of the project’s work out. The pre-project documentation consists of 65 books, 500 pages each. However, the Ministry of Energy of Russia, having considered the project, considered it not quite developed from the economic and technological point of views, and decided that the Government’s participation in it would be unreasonable. The concern Belneftekhim had similar reaction to the suggestion of locating the complex in Belarus.
At the present time the initiators say that they consider the variants of placing the complex in the Ukraine and Australia. They assure that both countries are very interested in the project’s realization.
The press service of the Zhitomir regional administration said that it studies the issue of the construction of the Tver oil refinery complex in the Zhitomir region of the Ukraine.
The Tver oil refinery complex CJSC was registered in 2011 with the registered fund of 0.1 mln robles. The owners of the company are the 2 citizens of Russia – V. Patokov (51%) and A. Goryuchkin (49%), Rupek writes.
http://www.oilru.com/news/326947/
Translated by Galiya Musabekova
