BUSINESS

Capital Investments in Oil Refinery Modrič for 100 Million KM Until 2017

The General Director of the Oil Refinery in Modrič Pero Dugić assessed 2012 as a successful one for this company.

He explained that the production of lubricants, lubricating greases and functional fluids generated 18.588 tons, their sale was 19.313 tons and oil processing was in the amount of 64.139 tons.

“Placement on the domestic market was achieved in 2012 with the participation of the total sales of 32 percent, and placement in foreign markets was achieved with the participation of a total sale of 68 percent. From a financial perspective, we finished the business year with positive results, with EBITDA for around 10 million KM’’, said Dugić in an interview with “Poslovne Novine”.

A total of 13.068 tons of lubricants, lubricating greases and functional fluids were exported, or 68 percent of the total sales.

The highest sales growth was recorded in the EU market.

Last year, thanks to the owner of “Njeftegazinkor’, respectively ‘Zarubezhneft’, we expect the largest increase in sales in the Russian market. The fact is that the coverage of imports by exports in the oil refinery is 152.20 percent’’, said Dugić.

Dugić announced that in 2013 a new plant for the production of automated lubricant and functional fluid using the latest technology from France. This will contribute to the achievement of business objectives.

Investments in a brand new plant for the production of base oils by the technology company Exxon Mobile is planned, and the total planned capital investments until 2017 will amount to nearly 100 million KM.

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