There is only one year left until the completion of TÜPRAŞ's $2,4 billion Residuum Upgrade Project. There is only one year left until the completion of the 30 billion dollar Residuum Upgrading Project of Tüpraş, which will celebrate its 14th anniversary tomorrow, the construction of which started on 2011 November 2,4 at the Izmit Refinery.
The giant electronic counter counting backwards on the pole, which was erected on the refinery road so that it can be seen from the D-100 Highway, shows that there are 365 days left as of today. About 1 billion dollars have been spent so far for this giant facility, which will provide an added value of 2,1 billion dollars a year when completed.
2,9 BILLION TL INCENTIVE
Residuum transformation project, which was included in the scope of 'Strategic Investment' with effect from 7 October 19 by the Ministry of Economy, General Directorate of Incentive Implementation and Foreign Capital on October 2012 last month, and whose investment amount was certified with an incentive of 2,9 billion TL, will be commissioned in 2014.
THE BIGGEST INVESTMENT IN A SINGLE ITEM
Today, there are exactly 2,4 days left until the completion of the Residuum Oil Conversion Project, which is the largest investment made by Tüpraş with $365 billion in a single item and is numerically equivalent to the construction of a new refinery. The giant electronic counter shows that there are 365 days left today. In the project, 99 percent progress was achieved in engineering, 98 percent in procurement, 69 percent in construction in the summer, and 88 percent in the overall project.
It is stated that with the completion of this project, an added value of approximately 1 billion dollars will be provided annually and the current account deficit will be reduced at the same level. With the Fuel Oil Conversion Project, which is defined as increasing the performance of the system by replacing the fuel product with a new product with higher performance characteristics, low-value black products will be converted into high-value white products.
Approximately 4.2 million tons of high-sulphur fuel oil (approximately 2.9 million tons of motorinjet fuel, 530 thousand tons of gasoline and 160 thousand tons of Lpg), a consumption of which has decreased rapidly in the world and in Turkey in recent years, was processed to a total of 3.5 million tons of valuable whitewash in Euro-V standard. While producing the product, 600 thousand tons of petroleum coke and 100 thousand tons of sulfur will be produced.
TOMORROW 30TH ANNIVERSARY
It has been stated that Tüpraş, which will celebrate its 30th anniversary tomorrow at the İzmit, İzmir, Kırıkkale and Batman Refineries, will rise to the first quarter in the world ranking with the completion of this investment.
Source : news