In Kharkov region the construction and modernization of the first in the history of independent Ukraine private petrochemical enterprise – Ukrainian Petroleum is nearing completion.
The new owner intends to work exclusively with Ukrainian producing companies and believes that the main task is to develop the Ukrainian economy. Konstantin Valeulin, president of AES Group industrial investment group, told about it in his interview to Energy Buisness magazine.
“The figures of gasoline imports for the first half of 2021 are record-breaking – about 115 thousand tons per month. We are dependent on import producers and obviously do not develop our own industry. Work with Ukrainian companies will allow us to cover our need in raw materials for domestic production, reduce the cost of the final product and stop the outflow of currency from the country,” says Konstantin Valeulin.
According to him, to date there are difficulties both with the availability of Ukrainian fuel on the Ukrainian market, and with the standard quality of fuel in general:
We want the Ukrainian consumer, firstly, the opportunity to choose, and secondly, this choice was supported by higher quality and lower price, due to the fact that the domestic producer can afford to be competitive in the domestic market. Once we enter the market with our products, the price for the end buyer will fall.
The new refinery will use catalytic reforming and hydrotreating technology. Contracts to supply equipment have been signed with licensed global companies. In the first quarter of 2022 the company is planning to produce benzene of chemical 99.9%, n-hexane for food purposes, Euro 5 gasoline, Euro 5 diesel and m-100 fuel oil.
Investments into the project of modernization and launching of Ukrainian Petroleum will make about $200 mln. To guarantee the consistency of construction work and active rates of modernization AES Group secured the support of one of the best banks in the country – “PUMB”.
Even if we don’t take into account the creation of additional jobs and the stable payment of taxes, which will make us the largest taxpayer in the region, we will largely solve the problems of Ukrainian mining companies. Kharkov, Poltava and Sumy are the center of Ukrainian gas condensate and light oil production.”We will be comfortable not only in matters of logistics, but to a greater extent, in the quality of processing services provided. In addition, our product will partially replace imports and increase exports, which will certainly have a positive impact on the country’s GDP and the petrochemical industry as a whole, “- says Konstantin Valeulin and emphasizes that the company works closely with community groups, local communities and authorities, supporting the state policy aimed at developing domestic business and strengthening the energy independence of the country.
