Construction of the Baltic Chemical Complex Will Begin in April

Source: 4/2/2021, Location: Asia

Limited Liability Company "Baltic Chemical Complex" has received permission to build a "Gas chemical complex as part of the Ethane-Containing Gas Processing Complex" (MCC KPEG) in Ust-Luga (Kingisepp District, Leningrad Region).

The corresponding document was received from the Committee for State Construction Supervision and State Expertise of the Leningrad Region for technological facilities of the gas chemical complex, as well as off-site facilities.

The project is being implemented with the support of the state development corporation VEB.RF.

“The KPEG project is steadily moving forward. For the first quarter of 2021, the State Environmental and Main State Expertise on projects of gas processing and gas chemical complexes were passed, a document was signed on the main terms of the EPSS contract within the framework of the GPK, and a construction permit was obtained for MCC facilities.

Today, within the framework of the MCC project, the construction of infrastructure facilities is underway - access roads and a temporary residential town. Preparation of the site for the start of construction and installation work has been completed. In April we are starting to build a gas chemical complex, ”said Konstantin Makhov, General Director of RusGazDobycha JSC.

“The gas chemical complex in Ust-Luga will become the largest enterprise in Russia and the world. Obtaining a permit for the construction of the complex's facilities will allow to start construction and installation work within the planned time frame, the financing of which can be carried out, including at the expense of credit funds from VEB.RF. The financial support of VEB.RF at the initial stage of the project increases its credit and investment quality, allows structuring debt financing, including with the involvement of international banks and financial organizations, "said Nikolai Tsekhomsky, First Deputy Chairman - Member of the Board of VEB.RF.

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