The holes were repaired

Zarubezhneft begins production of petroleum products in Bosnia and Herzegovina

In Bosnia and Herzegovina, the first stage of the Bosanski Brod oil refinery, owned by the Russian Zarubezhneft, was opened yesterday. Its capacity is 1.2 million tons of oil per year, but in 2010, according to the head of the Russian company Nikolai Brunich, a second line will be launched. In total, the refinery will process a total of 4.2 million tons per year. Entering the market of Bosnia and Herzegovina cost Zarubezhneft 350 million euros, which the company borrowed from Vnesheconombank for five years.

The Bosanski Brod refinery, considered the largest in the country and also one of the largest in the Balkans, was destroyed during the Balkan War, which ended in 1995. Until the beginning of 2007, the plant was practically mothballed and did not function. However, then the dilapidated enterprise attracted the attention of Zarubezhneft, which in February of the same year entered into an agreement with the government to purchase the refinery. In addition, the package of assets acquired by the Russian company for 350 million euros included the Refineria Ulya motor oil plant and the Petrol company, which owns a network of 78 gas stations.

A large delegation of Russian businessmen and the leadership of Bosnia and Herzegovina arrived at the opening ceremony of the first stage yesterday. “I am happy to have been part of the team that worked on this project. It will mark the beginning of a period of intensive cooperation between the economic entities of Republika Srpska and Russia. It is the first, but not the only project,” RIA Novosti quotes the words of the Prime Minister of Bosnia and Herzegovina Milorad Dodik. Mr. Brunich, in turn, noted the support provided to the Russian company by the authorities of Bosnia and Herzegovina, and also thanked “the refinery team, which managed to put the plant line into operation in a short time.” In addition, the ceremony was attended by the country's President Rajko Kuzmanovich and the head of VEB Vladimir Dmitriev. Mr. Dmitriev was surprised how it was possible to carry out all the restoration work in such a record time: “Two years ago, when I first came to this plant, everything here was completely different. We saw installations with holes from artillery shells and destroyed equipment. Everyone doubted that the plant could be put into operation in a short time. But it happened." Mr. Dmitriev conveyed congratulations to the leadership of Bosnia and Herzegovina from Prime Minister Vladimir Putin and Head of the Presidential Administration Sergei Naryshkin.

Kirill MELNIKOV