Russia: Engineering project MOL, Tatneft to Construct Rubber Bitumen Plant
MOL and Tatneft have plans to build a rubber bitumen plant in Tatarstan, Russia. The Hungarian Ministry of Foreign Affairs and Trade will be partly financing this project. The new facility is expected to have a production capacity of about 20,000 tpa.
Nizhnekamsk/Russia – MOL and Tatneft, one of the largest oil and gas companies in Russia, have launched a joint project for a rubber bitumen plant in the Republic of Tatarstan. The companies have also agreed to establish a joint venture that, besides manufacturing and selling rubber bitumen, will also be authorized to market MOL's technology license in the Commonwealth of Independent States. The investment is partly financed by the Hungarian Export Development Agency’s (HEPA) tender funding.
Péter Szijjártó, Minister of Foreign Affairs and Trade of Hungary; Rustam Minhihanov, President of the Republic of Tatarstan and Chairman of the Board of Directors of Tatneft; and Nail Maganov CEO of Tatneft and Member of the Board of Directors of Tatneft; officially launched the construction of the joint rubber bitumen plant between MOL and Tatneft. The investment will be housed by Tatneft’s Taneco refinery, which operates in the Republic of Tatarstan, in the town of Nizhnekamsk, about 1,000 kilometers from Moscow. The plant, with a production capacity of about 20,000 tons per year, will be a joint plant of MOL and Tatneft, but this is only the first step in the cooperation of the two companies.
MOL and Taneco, a subsidiary operating the Tatneft refinery, have also agreed to establish a joint venture (RMB-RUSS) in which MOL will have a 51 % majority
The purpose of the joint venture is to build the plant using MOL’s rubber bitumen technology, to produce and sell rubber bitumen, and to market MOL’s technology license in the Commonwealth of Independent States.
The plant in Tatarstan, as well as future investments in the region will utilize the proven rubber bitumen technology extensively tested at MOL’s refinery in Zalaegerszeg, and MOL will provide the knowledge and expertise to run the plant, in form of a license. The raw bitumen and rubber grind will be provided by Taneco, while the special modifier manufactured by MOL LUB will be supplied by MOL.
The investment will be financed by the partners in proportion to their share in the company. The project is also funded by the Hungarian Export Development Agency (HEPA) managed by the Ministry of Foreign Affairs and Trade, providing about 50 % of the investment costs.
Besides sharing the technology, MOL Group will also support the new Tatar unit with the actual operational experience of the rubber bitumen plant in Zalaegerszeg which has been operating since 2012.