Lurgi and OJSC "TAIF-NK", Nijhnekamsk, Tatarstan, have signed an outline agreement for a new complex within the Russian refinery TAIF-NK. The goal of the project is to increase the refinery capacity from 7 to 9.1 million tons/year of oil and adapt the fuel product quality to the Euro-5 standard. Under the agreement, Lurgi will supply licenses for parts of the technology as well as the complete engineering. The total investment amounts to around $2.2 billion. The new complex is scheduled to be completed by 2014. The agreement was signed in the framework of the official ceremony marking the founding of the Russian-German Energy Agency RUDEA that took place in Moscow on 28 April 2009. Shareholders of the agency are the German Energy Agency (DENA), Berlin, as well as the Russian Carbon Energy Fund as the representative of the Ministry of Energy, holding a share of 49 % and 51 %, respectively. The purpose of RUDEA is to advance Russia's energy efficiency in the fields of industry, power generation, transport and renewable energies. "We are pleased to conclude this outline agreement with OJSC ‘TAIF-NK'. This investment will allow us to support our customers' growing demand and it represents another milestone in our refinery business," commented François Venet, CEO of Lurgi.
