Rustam Minnikhanov: TAIF-NK heavy residue processing complex is a unique project for Russia

Construction of a heavy residue processing complex at the oil processing plant TAIF-NK is a unique project for Tatarstan and Russia, the Tatarstan President Rustam Minnikhanov said at a solemn groundbreaking ceremony in recognition of construction of the new complex in Nizhnekamsk.

Construction of new complex is the final stage of TAIF-NK plant modernization. After putting the new complex into operation the share of light oil products at the plant will make 95 %.

It will be the first complex in Russia based on the advanced Veba Combi Cracking technology.

The multi-stage hydro-cracking unit will be used at the plant.

The French company Air Liquid will make the hydrogen producing unit. The project cost is 1,835 bln dollars. Funding of the complex construction will be realised at TAIF-NK own expenses and loans.

Speaking at the ceremony, Rustam Minnikhanov said that the event was very important not only for Nizhnekamsk and republic.

Honoured guests laid two symbolic capsules with a message to descendants in the foundation of heavy residue processing complex and Air Liquid plant.

At a press conference dated to the beginning of the project realisation Rustam Minnikhanov noted that TAIF NK plant was one of the largest plants in republic for that moment. The Tatarstan President also noted ecological significance of new enterprise. He also mentioned outsourcing practice in supplying hydrogen to the petrochemical plant that was used in Russia for the first time.

Air Liquid will invest 350 mln dollars in construction of the hydrogen producing unit.

Rustam Minnikhanov said that the project realisation would fit with the strategy determined by the Russian Government aimed at more profound oil processing and production of high-quality oil products.