Russia Offers Kirishinefteorgsintez $200m

The Russian government has supported a project to reconstruct Kirishinefteorgsintez (KNOS) to organize the deep processing of oil (hydrocracking). The total cost of the project is around $820m.

<BR>The Russian government has supported a project to reconstruct Kirishinefteorgsintez (KNOS) to organize the deep processing of oil (hydrocracking). The total cost of the project is around $820m.<BR>In effect, the Federal authorities gave their permission for the creation of a special customs regime for KNOS' free storage depots, through which hydrocracking equipment bought abroad could be shipped without the payment of duties or VAT. According to various evaluations, this could allow a saving of from $140m to $200m.