25.01.2006
"Interfax"
Oil Company RussNeft is going to spend RUR600 million for the development of ‘Krasnodar Oil Refinery – Krasnodarekoneft’ ZAO, the company says in a statement.
The tax proceeds to the budget of the Krasnodarsky krai will be doubled in 2006 from RUR100 million a year to RUR200 million.
Furthermore, according to RussNeft press-release, the company has worked our short and long term plans for upgrading the refinery to be submitted to the administration of the region in the nearest three months.
As reported before, end of December 2005 RussNeft reached an agreement in principle with the shareholders of the Krasnodar Refinery on the sale of a 75% stake at the refinery. Since January 2006 RussNeft assumed operational control over the refinery and its production activity.
