NIZHNEKAMSK, Russia—Russia's Tatneft and Hungarian energy group MOL have agreed to build a joint venture rubber bitumen plant at Tatneft's Taneco refinery and petrochemical complex in Nizhnekamsk, Tatarstan.
The $16 million project, to be 51 percent owned by MOL, will employ MOL's patented technology to produce high-quality road surface materials, using up to 500,000 end-of-life tires per year.
The plant is expected to produce 25,000 metric tons per year of rubber bitumen and is scheduled for start-up in mid-2023.
MOL launched its first commercial-scale rubber bitumen plant at its Zala Site, in western Hungary, last October.
The rubber bitumen, according to MOL, will be used as raw materials for road construction, with 20,000 tons enough for building a new lane for a 125-mile highway.