Russia to fund Naftan modernisation
The situation has not changed
On May 21st, Deputy Prime Minister Semashko announced that a principle agreement had been reached with Russia’s Sberbank regarding a USD 2 billion loan to reconstruct the petrochemical complex Naftan. If completed, this project will increase Naftan’s refining capacity to 6-7 million tons and will improve p-Xylene production economy. Belarus will no longer need to import these products and will have their guaranteed supply to satisfy the needs of the chemical industry. Belarus might also receive loans from other Russian banks to modernise her industry.
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Once a week, in coordination with a group of prominent Belarusian analysts, we provide analytical commentaries on the most topical and relevant issues, including the behind-the-scenes processes occurring in Belarus. These commentaries are available in Belarusian, Russian, and English.
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