NIS to invest over 500m EUR in modernization prior to year 2012

- Over 500m EUR will be invested in modernization of complete refinery complex of Petroleum Industry of Serbia (NIS) within the next three years, 60m EUR of which will be spent on environmental programmes - said the representatives of the company.

- Implementation of the programmes for modernization of refineries in Pančevo and Novi Sad has already started and, once all schedulled works are done, by the end of year 2012, all oil derivatives produced in NIS will meet euro-standards, which will represent a significant contribution of that petroleum company to the admission of Serbia into EU - it was pointed out at the joint press conference of NIS and "Exit" team at festival "Exit 09".

- Environment protection is one of the top priorities and an inseparable part of the strategy for efficient management of the company - the Deputy Director General of NIS, Jurij Masijanski, pointed out and added that three key directions in field of ecology were drastic reduction of harmful effects of production, production of environment-friendly fuel and revitalization of natural resources, especially on the territory of refineries.

- The Directorate for Ecology has been founded within the company for the first time, and that directorate will carry out eco-check at the level of the whole company in few months and, based on the results, it will make the plan for improvement of environmental standards in production - said Masijanski.

The Adviser of the Director General of NIS for special issues, Vladimir Anisimov, pointed out that 29 facilities would be included in the project for complete modernization of the company's refinery complex, 10 of which would have direct influence on improvement of environment protection.

Realization of the project for construction of the complex for hydro-cracking and hydro-processing in Oil Refinery "Pančevo" has commenced. Once completed, it will enable environment-friendly production, old refinery capacities will not be used any more, while air pollution will be reduced up to 10 times.

Anisimov pointed out that, within the scope of the modernization programme, significant works would be carried out in Novi Sad-based refinery, especially on reconstruction of the units and reservoirs that had been destroyed during NATO bombing, collecting of harmful matters from the land deposited for years, wastewater treatment, etc.

In the following period, NIS will also direct its strength to the improvement of quality of all types of fuel - Nikolas Petri, the Investment and Development Manager, pointed out and added that, following the completion of modernization, that company would be producing motor gasoline "euro 5".

Production of environment-friendly gasoline in existing production capacities has been increased, while NIS' refineries has started production of euro-diesel with up to 10 ppm of sulfur, which is in accordance with European environmental standards.

- That is the first production of euro-diesel in Serbia, which is completely the same as imported fuel - said Petri and pointed out that the volume of production of leaded gasoline was gradually decreasing. Of all gasoline produced by NIS, 60% is unleaded fuel, and that percentage should soon grow to 80, and the intention is that the production of leaded gasoline be discontinued in the future.

(Note: complete text is taken over from newspaper of July 13th, 2009)