MINSK, January 31 (RIA Novosti, Olesya Luchaninova) - Russian oil company RussNeft is prepared to help fund upgrades at Belarus' Polimir petrochemical plant, the company's president said Tuesday.
Mikhail Gutseriyev told President Alexander Lukashenko that RussNeft was ready to allocate funds from its 2005 $1-billion revenues and attract loans to help Belarus modernize the plant, which produces high-pressure polyethylene, acrylic fiber and consumer goods.
"We are highly interested in an effective project of the Polimir modernization, which should be divided into four to five stages, in order to produce competitive products and supply them to Eastern and Central Europe," said Gurtsiyev.
RussNeft produced 13 million metric tons (260,000 bbl/d) of oil in 2005 and is expected to produce 24-25 million mt this year.
