NIS additionally modernizes Pancevo Oil Refinery

The Petroleum Industry of Serbia (NIS) finished a nearly RSD 6 billion worth of process of modernizing facilities within Pancevo Oil Refinery this summer, the company said in a release on Thursday.

In that way, this oil company resumed the process of constantly improving the processing capacity that began after last year's completion of a complex for producing oil derivatives in line with the Euro 5 standards.

In aforementioned period, the company completed the modernization of its dock on the Danube River and continued the modernization of the filling station. In adddition, the largest refinery for producing gasoline and gasoline components was reconstructed in that period.

All conditions for the production of biodiesel with the appropriate content of bio-components will be created within the next two months, the release reads. This investment, worth over RSD 100 million, will make it possible for NIS to export its products to the European Union.

Aside from these investments, Pancevo Oil Refinery will implement another about 40 smaller technical and technological projects and improvements by the year's end.

As it was announced, definitely the largest investment this summer, amounting to a total of nearly RSD 4 billion, is the completion of a modern dock on the Danube.