The country’s first private petrochemical company will start producing benzene for chemical synthesis and hexane solvent with 99.9% purity in January 2022, which will strengthen the export potential and domestic market of the country. This is reported by the press service of the investment industrial group AES Group, which became the new owner of Ukrainian Petroleum. The team is building a new plant and modernizing the existing one in record time. The basis of the technological process will be the processing of gas condensate and light hydrocarbon gas condensate exclusively from Ukrainian production companies.
“We have an ambitious goal backed by our capabilities – to produce Euro 5 fuel in Ukraine which in all respects meets the world standards of premium quality, – says Konstantin Valeulin, President of AES Group Investment Industrial Group, – We will equip the enterprise with the licensed world technologies. According to preliminary estimates, our investments in modernization will exceed $200 million.
Own benzene production for chemical synthesis and hexane solvent production with 99.9% purity will allow to strengthen its positions on export markets, which will become an absolute advantage for oil-extracting industry of Ukraine. Similar production has not been produced in the country for the last 30 years. Until this moment Ukraine was a hostage of imports from Belarus, Russia and Romania, alternately fearing the threat of shortages and cessation of supplies. Ukrainian Petroleum’s product is a breakthrough for the export and import-landing petrochemical complex.
“Ukrainian Petroleum is a Ukrainian company. We are interested in creating a Ukrainian product, which every Ukrainian can proudly use instead of more expensive imported analogues,” notes Konstantin Valeulin.