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Slovnaft to invest over Sk8 billion

THE SLOVNAFT oil refinery plans to invest between Sk8 - 8.5 billion (€197.7 - 210.05 million) in 2004, the news wire TASR wrote.

According to Slovnaft director general Vratko Kassovic and MOL (the majority owner of Slovnaft) director general György Mosonyi, the most important investments are the construction of new polypropylene and desulphurisation units for the production of diesel.

The refiner also plans to spend more than Sk2 billion (€49.42 million) to enlarge its filling station network. Half this investment would be used in Slovakia and the rest in the Czech Republic and Poland.

The polypropylene 3 unit should begin operations in the third quarter of 2004. The desulphurisation unit will begin to keep the volume of sulphur in diesel fuel below 10 parts per million in May 2005, in line with European standards.

In another step towards entering the Austrian market, the company will build a transport terminal in Bratislava's river port with an annual capacity of several million tonnes.

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