NIS signed contract on construction of complex for hydrocracking and hydrofinishing in Oil Refinery Pančevo - investment worth about 70m EUR

"Petroleum Industry of Serbia" has signed the contract with US company "CB&I Lummus" on construction of the complex for hydrocracking and hydrofinishing in Oil Refinery Pančevo.

- The complex will be built within the scope of realization of the programme for technical modernization and reconstruction of the refinery section of the company - NIS announced.

The contract anticipates that "CB&I Lummus" provides services of engineering, delivery of equipment, supervision and construction of the complex, and total value of the contract exceeds 70m USD.

Construction of the complex for hydrocracking and hydrofinishing will make it possible for company NIS to increase the volume of production, as well as to improve the quality of ready-made products, and become competitive player in European market.

Completion of construction of the complex is expected in the third quarter of year 2012 when Serbia will have one of the state-of-the-arts refinery complexes in east Europe.