Rosneft, a Russian petroleum corporation, plans to build a refinery worth $2.5 billion (78.3 billion rubles) in Chechnya to process 1 million tons of oil annually, Vedomosti reports.
The facility will be launched in Q4 2015. The second stage of the refinery will be completed in Q3 2018. It will produce up to 478,000 tons of Euro-5 gasoline and up to 400,000 tons of diesel fuel annually.
$344 will be invested in every barrel of processed oil. Rosneft purchased a refinery in Europe at a price of $20-24 per barrel.
The Chechen budget is worth 74 billion rubles.
