Lukoil To Invest USD 150 Mn In Ukraine By 2011
15 March 2008
Russian oil major Lukoil will invest USD 150 mn in its subsidiary Lukoil-Ukraine by 2011. Lukoil President Vagit Alekperov said the money would be used to increase the number of gas stations. In 2005, Lukoil’s gas station chain will grow by 200-210 units, while overall the program envisages the addition of 350 stations. Lukoil also intends to invest nearly USD 170 mn in upgrading its JV Lukor (in the Kalush, Ivano-Frankivsk oblasts) and nearly USD 300 mn in the modernization of the Lukoil-Odesa refinery by 2011. Lukoil’s plans include the construction of an oil and lubricant factory in Boryspil. The project will cost an estimated USD 20 mn.
