The Lukoil Neftochim Refinery in Bulgaria's Burgas, a subsidiary of the Russian energy giant, and the Bulgarian government broke the ground of a USD 1,5 B hydrocracking catalyst installation that will process petroleum waste.
The construction phase of the project will create over 3 000 jobs, declared Burgas Mayor Dimitar Nikolov during the ground-breaking ceremony, which was attended by Bulgarian Prime Minister Boyko Borisov, Deputy PM and Finance Minister Simeon Djankov, and Lukoil President Vagit Alekpetrov.
"Bulgarian subcontractors will be hired for some of the construction works," Lukoil chief Alekpetrov assured at the start of the construction that he launched together with Bulgarian Prime Minister Borisov.
The USD 1.5 B investment in Bulgaria is 10% of Russia company Lukoil's global projected investments for the next 10 years, Novinite.com reports.