Sber and Irkutsk Oil Company discuss gas chemical cluster

Oct 22, 2021

Representatives of Sberbank, led by Deputy Chairman of the Sberbank Executive Board Anatoly Popov and Irkutsk Oil Company CEO Yakov Ginzburg, visited the construction sites of the Irkutsk Polymer Plant and the Ust-Kut gas processing plant.

The Irkutsk Polymer Plant is set to be commissioned in 2024. Currently over 2,000 people are involved in the construction of the installation. Peak mobilization is planned for 2022-2023 and will amount to 7,000-8,000 people.

Anatoly Popov, deputy chairman of the executive board, Sberbank:

“Irkutsk Oil Company is a long-time, reliable partner, and I am pleased to be visiting the construction sites of facilities that Sberbank is considering financing. Here we have seen the large-scale implementation of a project that includes not only new production and jobs, but also an entire city, with quality conditions of life and for development. It is important that contemporary technology that meets international environmental requirements will be used in the construction of the polymer plant, and that there will be regular environmental monitoring. This is of particular importance considering the ESG cooperation agreement signed by Sberbank and Irkutsk Oil Company at this year’s SPIEF.”

The delegation also inspected the site premises, including firefighting and service water tanks, integrated waste treatment facilities, and other priority facilities. Work is nearing completion on the startup of the boiler room, which is scheduled for next year. It will produce heat and steam for the pyrolysis unit.

Yakov Ginzbug, CEO, Irkutsk Oil Company:

“The construction of the Irkutsk Polymer Plant is approximately 40% complete. It is scheduled to be commissioned in 2024. Over 2,000 contractor personnel are currently employed at the site. Peak mobilization is planned for the end of 2022-2023 and will amount to 7,000-8,000 persons.”

The construction of the new microdistrict is set to begin in 2022. Experts will be able to move to Ust-Kut together with their families. Thirty block sections will be erected in stages, so that people will be able to move into apartments by the time the plant has started operating. The entire residential facility is scheduled for completion by the end of 2025.