INK plans to put the polymer plant on stream in 2023

The contract was signed by Mr. Donskoy Sergey, Board Member of Irkutsk Oil Company, and Mr. Haruo Nagamatsu, President of Toyo Engineering Corporation.

The signing ceremony was held in presence of Mr. Novak Aleksandr, Russia’s Minister of Energy, and Mr. Hiroshige Seko, Japan’s Minister of Economy, Trade and Industry.

Back to September 2018, Irkutsk Oil Company and Toyo Engineering Corporation signed the Agreement for Cooperation followed by two major EP contracts for Irkutsk Polymer Plant.

According to the new contract an affiliate of Toyo Engineering Corporation will render the services of coordination, planning and supervision of the construction of polymer plant to be located in the city of Ust-Kut, Irkutsk region. Japanese professionals will be dispatched to the construction site and will participate in construction management.

INK plans to put the polymer plant on stream in 2023. Now, the company is working on the extensive site preparation, while design and procurement of equipment for the plant are underway.