INA to modernize Rijeka refinery, convert Sisak

摘要

The Croatian refiner will invest over 4B kuna ($616MM) to modernize its Rijeka refinery, while also announcing that it will convert its Sisak refinery into another type of industrial plant. INA said a final investment decision on the modernization project is expected next year, with the project set to be completed in 2023. The conversion of Sisak may include bio-component refining and petrochemical production, INA said, adding that it could also involve a modern logistics hub, bitumen, renewables, and lubes production. INA said the conversion is necessary due to die refinery reporting losses from processing crude.