Belarus Ready to Transfer Mozyr Oil Refinery Shares for Trust Management 11:36, 01/12/2004
According to the newspaper KOMMERSANT, SLAVNEFT president Yury Sukhanov plans to hold talks with BELNEFTEKHIM concern chairman Bronislav Sivoy and consider the Mozyr Oil Refinery`s business plan for 2005.
The transfer of a state-controlled stake in the refinery to SLAVNEFT for trust management is also to be discussed. The Belarusian has drafted the final list of terms of the transfer of the state-controlled stake, some of which, as before, are rejected by SLAVNEFT. To begin with, SLAVNEFT objects to the trust managing company`s being responsible for refinery`s profitability. Another moot problem is the expediency of supplying more crude to the refinery and still another, the size of investment. Under a draft trust contract, $630 million is to be invested by 2010, with $263m to be spent on building a paraxylene production line. SLAVNEFT, however, does not think it to be expedient because petrochemistry does not feature among its priority targets.
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