- EUR 397m invested in hydrocracking and hydroprocessing complex
- EUR 70m allocated for hydrogen production unit
- Completion expected by Q3 2012
- Refined oil output to reach 4.8 million tonnes per year
Investment Breakdown
The Petroleum Industry of Serbia (NIS) has initiated the modernization and construction of new fuel production units at the Oil Refinery in Pancevo, with a total investment of EUR 467 million. Of this, EUR 397 million is allocated for the development of a hydrocracking and hydroprocessing complex, while EUR 70 million is dedicated to the construction of a hydrogen production unit.
Timeline and Completion
The modernization project is scheduled for completion in the third quarter of 2012. This timeline is crucial for ensuring that the refinery meets its production and environmental goals within the stipulated period.
Production Capacity
Upon completion, the Pancevo refinery's capacity for refined oil will increase to 4.8 million tonnes per year. This enhancement will enable NIS to produce motor gasoline and euro-diesel 5 that comply with European ecological standards.
Environmental Impact
The new units will feature contemporary filtering systems designed to reduce pollution caused by oil refining processes. This is a significant step towards minimizing the environmental footprint of the refinery's operations.
