Capital improvement of the Afipsky Oil Refinery will continue

Capital improvement of the Afipsky Oil Refinery will continue 15.06.2021

Capital improvement of the Afipsky Oil Refinery will continue

Within the framework of XXIV St. Petersburg International Economic Forum, memorandum of understanding on cooperation in the field of investment was signed among the administration of the Krasnodar Territory, ForteInvest and Afipsky Oil Refinery (managed by Said Gutseriev’s ForteInvest, part of the SAFMAR Group).

The document was signed by the Governor of the Krasnodar Territory - Veniamin Kondratyev, General Director of ForteInvest - Said Gutseriev, and General Director of Afipsky Oil Refinery - Alexey Sidorov. The memorandum of understanding provides for implementation of the investment project "Hydrocracker unit with a capacity of 2,500 thousand tons (as part of the facilities of the Vacuum Gas Oil Hydrocracker Complex)".
The purpose of the construction of a high-tech industrial facility is to increase the yield of light oil products to 75%. In accordance with the memorandum of understanding, the volume of investment will amount to 46.3 billion rubles, the number of new jobs will increase up to 127.
Business meeting was held аfter the signing of the document. In addition to the top officials of the administration of the Krasnodar Territory, ForteInvest and Afipsky Oil Refinery LLC, the meeting joined Yuri Burlachko - Chairman of the Legislative Assembly of the Kuban and Andrey Alekseenko - the first Vice-governor of the Kuban.
- Production of EURO-5 standard fuel will make the refinery one of the companies producing world-class products and will allow it to become truly competitive," highlighted Said Gutseriev during the meeting. In turn, Veniamin Kondratyev noted the fact of the recent merger of the Krasnodar Oil Refinery with Afipsky Oil Refinery.
- The Governor of the Krasnodar Territory expressed confidence that "The merger will contribute to the strengthening of the company". Alexey Sidorov pointed out the signing of the memorandum of understanding as a key factor in the upcoming changes.
- "Meaningful cooperation with the administration of the Krasnodar Territory is very important for us, as the signing of this document opens up new opportunities for the company," he said. - Thanks to the implementation of the investment project, we will create a new production facility, which will become a key element of the production chain.
It is worth reminding that at the end of May 2021, SAFMAR Group completed the process of reorganizing its oil refining assets in the form of joining the Krasnodar Oil Refinery to the Afipsky Oil Refinery.
Business combination of two companies under one brand will allow to optimize costs, increase production efficiency, among other things due to increasing the volume of production of high-quality products, as well as save jobs.
Primary processing will be located within the territory that previously belonged to the Krasnodar Oil Refinery, and deep processing will be carried out within the historical site of the Afipsky Oil Refinery.

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