Neste to divest its fuel retail business in Russia and sell it to PJSC Tafneft

Neste’s headquarter in Espoo, Finland

Neste Corporation signed an agreement to sell its fuel retail business consisting of 75 fuel stations and a terminal in St. Petersburg region to PJSC Tatneft, one of the leading integrated oil and gas companies in Russia. “The divestment – Finnish company stated – has no impact on Neste’s Marketing & Services’ operations in Finland and the Baltic countries”.

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In Northern Russia a plant to produce 100,000 tonnes of bioethanol per year from wood waste

Vladimir Putin
Vladimir Putin

The Komi Republic in Northern Russia could host a plant that would produce 100,000 tonnes of bioethanol per year from wood waste. The proposal, coming from Egregor Biotech and Evolution Group, was presented last week, Komiinform news agency reported. Over 15 million rub (196,000 US dollars and 177,000 euro) have already been spent on the project. The total investment required is estimated at 136 million euro. A process to create a pool of investors is underway, with different options for the realisation of the project being considered, including a public private partnership.

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PoliKompleks invests 30 million euros to construct a bioplastics plant in Russia

moscowPoliKompleks, a Russian industrial biotechnology company, plans to invest around 1,2 billion rubles, 30 million euros, to construct a bioplastics production complex in Russia’s far western enclave of Kaliningrad. To say it is Nikolai Tsukanov, governor of the Kaliningrad Region.

PoliKompleks has reached agreement to establish plants for products based on lactic acid and polylactides (PLA) for the manufacture of some 50,000 tpa of biocomposites. The complex will also have a biodegradable de-icing reagents plant with a capacity of around 12,000 tpa. The Russian company expected to reach an annual turnover of 1,4 billion rubles, approximately 34 million euros.

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