Source Pravda.Ru

Surgutneftegaz to build $600M factory in Western Siberia

Russia's oil and gas company Surgutneftegaz is going to build a factory in Khanty-Mansiysk, a city in Western Siberia, for the production of polymers, the company's president Vladimir Bogdanov announced in an interview at the international investment forum 'Russia: oil, energy, progress'. The new factory will be called Surgutpolymer. The president reported the feasibility studies had already been completed. According to preliminary estimates, the cost of this project will reach about $600 million. According to Bogdanov, Surgutneftegaz has enough assets to finance this project, however, it is ready to cooperate with investors, including western ones. He hopes the participation of foreign investors in this project will help promote products of the future factory on western markets.