Governor of Perm region Dmitry Makhonin and President of PJSC LUKOIL Vagit Alekperov signed today a memorandum of understanding regarding investment project of construction of catalytic cracking complex at the Perm refinery.

The project will be implemented under LUKOIL's agreement with Russian Ministry of Energy on an investment increment to reverse excise tax on oil until January 1, 2031. The launch of the complex in 2026 will allow to increase production of high quality motor petrols and start production of polymer grade propylene, which will be used as feedstock for LUKOIL's petrochemical facilities.

Vagit Alekperov and Dmitry Makhonin also held a video conference with workers of LUKOIL Group in Perm region and took part in the ceremony of national, regional and corporate awards presentation.