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Singapore’s company may become consultant of Russia’s Far East petrochemical cluster

June 25, 2014, 10:52 UTC+3 VLADIVOSTOK
The annual capacity of a petrochemical cluster which is being designed makes 30 million tonnes of oil, preliminary cost of first and second stages of the project makes $19.3 billion
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Acting Governor of Primorsky Territory Vladimir Miklushevsky

Acting Governor of Primorsky Territory Vladimir Miklushevsky

© ITAR-TASS/Denis Vyshinsky

VLADIVOSTOK, June 25. /ITAR-TASS/. The world largest consultant and developer in creation, development and management of industrial parks and economic zones Singaporean company Jurong Consultants Pte. Ltd may become a consultant of a project creating a petrochemical cluster in Russian Far East’s Primorsky Territory, acting Governor of Primorsky Territory Vladimir Miklushevsky said at a meeting with Vice-President of the Singaporean company Tan Wooi Leong on Wednesday.

Jurong Consultants would like to make its contribution in this project, participate in its implementation and creation of a petrochemical cluster, Tan Wooi Leong said.

Miklushevsky proposed to the Singaporean company to act as a consultant in creation of the cluster, the press service of regional authorities told ITAR-TASS. “Jurong Consultants would be able to participate in implementing other major Primorsky projects” in the future, the regional chief executive said.

Miklushevsky also noted that the petrochemical cluster project had been put on priority list of the Russian Far East Development Ministry’s projects which will be implemented at advanced development territories where investors would be granted considerable benefits in taxation, insurance and customs payments.

He noted that grounds where productions would be situated were within international transport corridor Primorye-1 which connected north-eastern Chinese provinces and ports on Primorsky eastern coast.

Miklushevsky noted that it was an opportunity for export by land to north-eastern Chinese provinces and by sea to port Vostochny.

“We have several projects for development of this port,” he added.

The annual capacity of a petrochemical cluster which is being designed makes 30 million tonnes of oil, preliminary cost of first and second stages of the project makes 659 billion roubles ($19.3 billion). First stage of the complex is planned to commission in 2020, second phase in 2022. The project yield is expected to exceed on trillion roubles ($29.4 billion). Meanwhile, around 100 thousand jobs will be created in Primorsky Territory.

The enterprise is planned to produce monoethylene glycol, polyethylene, polypropylene, aromatic hydrocarbons and ethyl benzene. Crude delivered through East Siberia-Pacific oil pipeline will be used as raw materials. A major part of produce is expected to be delivered for export to Asia-Pacific regional countries.

Company Jurong Consultants operates in 45 countries and has already implemented more than 1.7 thousand projects. Most successful of them are “a petrochemical island” in Singapore, an industrial park in China’s Suzhou and an industrial city in United Arab Emirates’ capital, Abu Dhabi.

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