Alfa-Bank and Germany’s BHF-Bank have signed a memorandum of cooperation to upgrade the Naftan company, BelTA learnt from the Belarusian bank.

The memorandum was signed at the Belarus Investment Forum in Frankfurt am Main on 17 November 2010. The document provides for financing the investment project to increase the oil processing depth at Naftan and constructing a Claus-type sulfur recovery unit (SRU) to recover elemental sulfur. The total long-term foreign investments are estimated at €35 million.

Alfa-Bank was the first title partner of the Belarus Investment Forum. It helped organize the forum and attract major foreign investors.

Over 20 agreements and protocols of intent to the tune of $2.7 billion were signed during the forum.

www.belta.by