OREANDA-NEWS. E4 Group - the biggest engineering company of Russia and Group of Companies “Titan” - a leader in petrochemical industry of Russia signed an agreement on designing power capacities to feed the new petro- and biochemical industries of Omsk and the Omsk region.

The contract signature ceremony was held with the participation of the governor of the Omsk oblast - Victor Nazarov.

“This is a significant project for the Omsk oblast, which will ensure the required power safety. The increase of power capacities is also necessary for further production development. Implementation of the project will allow us to create new work places and it will be another development phase for our region”, said the governor.

The contract includes survey works, development of feasibility study and designing of additional combined cycle power plant of 120 MW of the existing thermal power plant of Titan Group in order to supply power to the whole production cluster and diversified industries of the Group.

From E4 side the contract is signed by its subsidiary - “E4-SibCOTES”.

The contract provides for a step-by-step project execution. Full commissioning of the required capacities and of additional substations, as well as reaching of the project capacity is scheduled for the years 2016 and 2017. The facility construction will allow to cover the existing deficit in energy, which is necessary for chemical production within the frames of biotechnological project “Biocomplex”, which is essential for Omsk and the Omsk oblast.

Andrey Malyshev, President of E4 Group: “The Contract between two biggest companies of Russia aimed at developing power energy for agro- and petrochemical industries will allow solving both business tasks of our companies and strategic targets of the state programs for development of industrial enterprises and for ensuring a dynamic growth of economics in the regions. At the first phase, E4 as an experienced power engineering company will elaborate the most optimal solution on increasing production capacities at the “Biocomplex” project. Within the further cooperation it is supposed to have an EPC contract for the project execution”.