Finance, Energy Ministries working on investments into petrochemicals

TASS Russian News Agency | May 25, 2020 at 6:00 PM

MOSCOW, May 25. /TASS/. The Russian Ministries of Finance and Energy are working on conditions of bringing investments worth 3 trillion rubles ($41.9 bln) into petrochemical and refining sectors, a source familiar with the text of the report of Energy Minister Alexander Novak told TASS on Monday.

"The Energy Ministry is working in cooperation with the Finance Ministry on creation of conditions for investments bringing into the petrochemical and refining sector. An appropriate bill currently reviewed by the Russian government has been prepared. According to our estimates, approval of this stimulating package of measures will make possible to bring about 3 trillion rubles ($41.9 bln) into the industry," the report says.

Investments will create the required demand in the industry and for oil and gas sector, the Energy Ministry believes.