BAKU, Azerbaijan, July 8
By Leman Zeynalova - Trend:
Hungarian MOL Group and Russia’s Tatneft, oil and gas company have launched a joint project for a rubber bitumen plant in the Republic of Tatarstan, Russia, Trend reports with reference to MOL Group.
The companies will also create a joint venture, which will be engaged in manufacturing, selling rubber bitumen and marketing MOL's technology license in the Commonwealth of Independent States. The project is partly financed by the Hungarian Export Development Agency’s (HEPA) tender funding.
The investment will be housed by Tatneft’s TANECO refinery, which operates in the Republic of Tatarstan, in the town of Nizhnekamsk, about 1,000 kilometers from Moscow. The plant will have a production capacity of about 20,000 tons per year.
MOL and TANECO, also agreed to establish a joint venture (RMB-RUSS LLC) in which MOL will have a 51 percent majority. The purpose of the joint venture is to build the plant using MOL’s rubber bitumen technology, to produce and sell rubber bitumen, and to market MOL’s technology license in the Commonwealth of Independent States.
The investment will be financed by the partners in proportion to their share in the company. The project is also funded by the Hungarian Export Development Agency (HEPA) managed by the Ministry of Foreign Affairs and Trade, providing about 50 percent of the investment costs.
The main advantages of using rubber bitumen: Extended longevity compared to normal bituminous roads; Its fatigue properties are excellent, thus there are fewer cracks in the asphalt; It results in higher load capacity and reduced tendency of depressions and rutting; Excellent adhesion to mineral substances reduces the chance of pits forming; Longer life span and better resilience result in lower maintenance costs; Less driving noise is achieved; Increased traffic safety due to better drainage.
---
Follow the author on Twitter: @Lyaman_Zeyn