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"Rosneft" received approval to receive funds from the SWF
The Ministry of Energy approved Rosneft's application for receiving funds from the National Welfare Fund (NWF) and sent documents to the Ministry of Economic Development, Vesti - Ekonomika reports, citing Deputy Energy Minister Kirill Molodtsov.
The company intends to spend these funds on the development of the Eastern Petrochemical Company (VNHK) and on the implementation of the investment program.
VNKhK will be engaged in construction of a petrochemical complex in Primorsky Krai with a capacity of up to 30 million tons of raw materials per year. The cost of construction is estimated at 1,3 trillion rubles.
It is reported that the company claims for the funds of the NWF, as the opportunities for lending in foreign markets have significantly decreased as a result of the imposition of US and EU sanctions.