Investments in the construction of a new complex based on Nizhnekamskneftekhim facilites (NKNH, a member of the TAIF group) are estimated at almost 234 billion roubles. This is stated in the materials for the speech of the President of the Republic of Tatarstan Rustam Minnikhanov in the Federation Council.
“The construction of ethylene production with a capacity of 600 thousand tons per year and further redistribution of products is promising. This is practically the second “Nizhnekamskneftekhim”, “Interfax” quotes R. Minnikhanov.
A year and a half ago, within the framework of the SPIEF-2017, Nizhnekamskneftekhim signed a contract for the design, supply of equipment, provision of services and start-up works for the first stage of the olefin complex with the German Linde AG. At the same time it was reported that the first phase of the complex with a capacity of 600 thousand tons per year is planned to be launched in 2021.
In May 2018, also at the NIEF “Nizhnekamskneftekhim” entered into a long-term loan agreement with Deutsche Bank AG. The financial agreement, concluded with the support of the export credit agency Euler Hermes, is calculated at 807 million euros and will be valid until 2032.
Five German banks will act as creditors: Deutsche Bank, UniCredit Bank AG, Bayerische Landesbank, Landesbank Baden-Württemberg, DZ BANK AG. The funds will be used to finance the project to build an olefin complex.
The initial configuration of the project assumed the launch of ethylene capacity for 1 million tons per year, for polyethylene and polypropylene – for 600 and 400 thousand tons per year, respectively. By the end of 2013, the project had purchased all the necessary licenses, the production of polypropylene and polyethylene was supposed to be carried out using Basell and INEOS technologies, and ethylene – using Lummus technology. The FEED complex was developed by the international engineering company Chicago Bridge & Iron Company. The total investment then was estimated at $ 3 billion.
Subsequently, due to the change in economic realities, the project to build the olefin complex was decided to be implemented in two stages. The first phase of the ethylene complex NKNH with a capacity of 600 thousand tons per year was planned to be launched until 2020, the second of a similar capacity – until 2025.
According to information that was announced in Munich in May 2017, in addition to 600 thousand tons of ethylene per year, 270 thousand propylene, 248 thousand tons of benzene, 89 thousand tons of divinyl and other intermediates are planned to be produced at the olefin complex.
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