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Russia to create good conditions for investments in petrochemical industry, Putin says

According to the President, the efficiency of construction of petrochemical facilities, optimal timing and cost of work are key factors in the success of such projects

TOBOLSK /Tyumen region/, December 1. /TASS/. The Russian authorities will continue to create comfortable conditions for attracting investments in the development of the country's petrochemical industry, President Vladimir Putin said. He was opening a meeting on the strategic development of the petrochemical industry.

"In general, we will certainly continue to create comfortable conditions for the development of oil refining capacities, for the activities of investors in this area. The government is already closely engaged in this," Putin said.

According to the President, the efficiency of construction of petrochemical facilities, optimal timing and cost of work are key factors in the success of such projects.

He noted that with this in mind, the authorities are now canceling outdated construction regulations, simplifying sanitary standards and requirements. Also the use of advanced building materials and digital technologies is being promoted.

"This work, of course, needs to be continued in the future in order to create an optimal environment for further investment activities," the head of state said. He invited the participants of the meeting to discuss measures that can be taken to optimize capital costs for the construction of petrochemical facilities without compromising the safety of their operation, in particular from an environmental point of view.