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25 May 2016, 18:34

Belneftekhim to spend $8.2bn on development in 2016-2025

SVETLOGORSK, 25 May (BelTA) – In 2016-2025 as much as $8.2 billion will be invested in the development of the Belarusian petrochemical concern Belneftekhim, BelTA learned from Belneftekhim Deputy Chairman Igor Bobyr during the press conference in OAO SvetlogorskKhimvolokno on 25 May.

The investments will be primarily channeled into starting the production of merchandise, which is not made in Belarus and which sells well on the market, and into upgrading the crude oil processing index for the sake of getting new products with a high added value. The main purposes of the changes will be preserving the financial stability of Belneftekhim's companies and ensuring the maximum effectiveness of sales, noted the official.

In January-April 2016 Belneftekhim companies channeled Br43 billion into capital investments. The implementation of major investment projects in SvetlogorskKhimvolokno, Mozyr Oil Refinery, and Polotsk-Steklovolokno was finished. In particular, SvetlogorskKhimvolokno can now make up to 3,000 tonnes of nonwoven laminated fabric per annum. In March Polotsk-Steklovolokno commissioned a line to make basalt yarn. Belneftekhim companies intend to implement at least six other major projects by the end of the year.

Igor Bobyr also spoke at length about plans to increase the output of chemical products in the next ten years. In the period carbamide production is expected to increase by 2.2 times while the output of NPK fertilizers will rise by 50%. The production of nonwoven polypropylene materials will rise by 50%, with the output of polyether industrial yarn up by 80%. This program was recently reviewed and approved for implementation, said the official.

The press conference in OAO SvetlogorskKhimvolokno was timed to Chemical Industry Worker's Day, which is marked in Belarus on the last Sunday of May.

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