Expanding to Croatia

Russian company to invest EUR 760 m in Brod refinery

05.07.2012 u 11:36

Bionic
Reading

The Russian oil company Zarubezhneft will invest 760 million euros in the Bosanski Brod refinery over the next four years.

The Brod Refinery, which was taken over five years ago by the Russian state company Zarubezhneft, processes 1.2 million tons of crude oil annually. Thanks to the new investment, the annual output will grow to three million tons. "We are interested in expanding on the Croatian market", the company spokesperson said in Brod on Wednesday.

Although Zarubezhneft claims to be in serious negotiations with the Croatian government about the investment in Croatia, the company representative denied the information that the First Deputy Prime Minister Cacic went to Moscow for a meeting with the head of Zarubezhneft, Nikolai Brunico, immediately after the trial in Hungary. "That's not true, but  we’ve made our offer to the Croatian government", said Josip Pleslic, Director of Nestro Save, the Zarubezhneft representative in Croatia.