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Chinese investor to build $4bn oil refinery in Russian Far East

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Chinese investor to build $4bn oil refinery in Russian Far East

XinChen Ind. & Com. Group, a Chinese Corporation, plans to make an investment worth between 26 billion to 30 billion yuan ($3,8 – 4,4 billion) in the construction of an oil refinery in the Primorye Territory located in the Russian Far East.

As the company’s president said today at a meeting with the first Vice-Governor, Vasily Usoltsev, the corporation is interested in building an oil refinery on the territory of the Lesozavodskaya urban district jointly with Russian partners.

The Governor in his turn reminded of the need to coordinate such projects at an intergovernmental level and assured the investors that the regional authorities were ready to provide them an assistance in addressing emerging issues.

At present, there are no oil refineries in the region, while the nearest one os located in the city of Khabarovsk.

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