16 June 2004 11:41
LUKOIL puts in operation first stage of Vysotsk terminal.
June 16, LUKOIL has put in operation today the first stage of LUKOIL-II distribution and handling facilities designated for oil product export, LUKOIL said.
Russia's Prime Minister Mikhail Fradkov took part in the opening.
First stage capacity stands at 4.7 mln tons on year, project capacity - 12 mln tons.
The construction started in June of 2002. LUKOIL-Neftegazstroy and US Pluor Corporation carry out the project.
In Sept. of 2003, US HBK Fund loaned $225 mln for 12 years to construct the terminal. US OPIC provided the coverage for $130 mln loan. CSEB which arranged the financing, guaranteed $75 mln.
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