Tatarstan President calls the project of advanced heavy residue conversion complex revolutionary

On November 11, at a press conference on results of his working trip to Nizhnekamsk, Tatarstan President Rustam Minnikhanov said that the project of advanced heavy residue conversion complex may become revolutionary in oil refining industry.

Earlier on the same day Rustam Minnikhanov visited the complex, where a presentation about the project implementation and prospects of this strategic investment project implemented by OAO TAIF-NK group was held.

The complex is planned to be launched in the 4th quarter of 2016. When it is put into operation the oil refinery process at TAIF-NK will become almost wasteless. The capacity of advanced heavy residue conversion complex is expected to be 3.7 mln tones per year. The oil refining depth will increase till 95 per cent. The profit of TAIF-NK group will increase twice, providing 700 new jobs.

Minnikhanov noted that the project may bring the profit of 15-16 bln rubles with the same amount of refined oil.