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Economy
22 January 2021, 17:11

Naftan's modernization expected to offset losses from Russian tax maneuver

VERKHNEDVINSK DISTRICT, 22 January (BelTA) – The commissioning of the delayed coking complex at the Belarusian oil refinery Naftan is important for the country because the higher oil conversion ratio and the larger output of oil products will be able to offset losses caused by the so-called tax maneuver in Russia. Prime Minister of Belarus Roman Golovchenko made the statement after he visited OAO Naftan on 22 January, BelTA has learned.

Roman Golovchenko noted that the delayed coking complex is a very complicated installation and its construction was prolonged by several years. Nevertheless, there are reasons to believe that the complex will be commissioned this year. “We intend to finish the construction and installation part in May and get down to startup and commissioning right away. We intend to get the first produce from this complex by Q4 2021 at best or by the end of the year if complications are encountered. It is important for us because the higher oil conversion rate and the larger output of oil products will offset losses from the tax maneuver,” the head of government noted.

Belarusian oil refinery Naftan eager to commission delayed coking complex by late 2021Belarusian oil refinery Naftan eager to commission delayed coking complex by late 2021
The complex comprises 19 plants and installations. As many as 12 of them have already been built while operation commencement acts have been signed for some of them.

In his words, a team led by Architecture and Construction Minister Ruslan Parkhamovich and Chairman of the Belarusian state petrochemical concern Belneftekhim Andrei Rybakov meets at the Naftan premises every two weeks in order to constantly oversee the project's progress and prevent delays.

The reporters also wondered about the prime minister's opinion of the national social and economic development program for 2021-2025. In particular, the establishment of a state corporation in the agricultural machinery industry was mentioned. Roman Golovchenko stressed that the proposal was under consideration. “The creation of state-run corporations represents movement in the right direction. We are talking about the merger of technological, engineering, and marketing potentials of enterprises. These days it is important to have powerful bodies capable of attracting serious financial flows and credit resources. In essence, it is a deeper degree of integration in comparison with existing holding companies. But we need time to fully evaluate the entire scale and make the right managerial decisions,” he added.

There are several key vectors in the program on the country's social and economic development in 2021-2025. Focus on the conventional branch of the production sector – petrochemical industry – is the first one. The government will continue investing in it. “At the same time the development of the regions is a priority. While concentrating workforce around major cities, we should not forget the regions. We've visited one of them today – Verkhnedvinsk District. It is an agricultural region with a small industry. It is necessary to develop manufacturing in every populated locality taking into account the preferences that are already available,” Roman Golovchenko concluded.

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