The French oil and gas giant Total has opened its first motor oils and lubricants production facility in the Russian Federation. The new plant is located in the Vorsino Industrial Park in the Kaluga Region.
Initially, the new RUR 3 bln ($45.8 mio) refinery is to roll out 40,000 tons of products per year, with a possibility to double its capacity. Its products will be supplied to the Russian market, as well as to Belarus and Central Asian countries.
The opening ceremony was attended by the head of the region, Anatoly Artamonov, Total Chairman and CEO Patrick Pouyanné, CEO of Total Vostok Fabien Voisin, Assistant to the Chief of Staff of the Presidential Executive Office Kirill Molodtsov, and Deputy Energy Minister Pavel Sorokin.
“The arrival of the French industrial giant to Russia will automatically increase our country’s overall investment appeal, and that of the Kaluga Region,” said Dmitry Alexandrov, an analyst at BСS Investments. “Total is the fourth largest oil and gas company in the world with a market capitalization about three times that of Rosneft.”