"An important part of the Rijeka Refinery Upgrade Project has been completed with the installation of key equipment at the new heavy residue conversion unit, and the works are expected to be completed in 2024," state news agency Hina said on Tuesday citing a press release sent to the media by the Ina oil and gas company.

“The project is currently 60 percent complete, and the construction of planned facilities is 36 percent complete,” Ina said, adding that the Rijeka Refinery Upgrade Project is the “biggest and most valuable industrial project in Croatia.”

The project for the construction of Ina’s heavy residue conversion facility at the Rijeka Refinery Upgrade Project with the accompanying facilities is worth about 4 billion kuna (€532m).

“The investment will boost the refinery’s competitiveness on the Mediterranean market and contribute to greater security of supply on the domestic and other markets on which Ina operates. In addition to the new heavy residue conversion facility, the investment includes the reconstruction of existing facilities and a new port with a closed storage facility,” Ina said.

“In July and August, the largest parts of the equipment of the future heavy residue conversion facility were successfully installed. In mid-July, a 51-metre fractionator was installed, followed by two coke chambers with a capacity of 900 cubic meters, each weighing 330 tons. The steel construction of the conveyor belt, 120 meters high, was installed in mid-August. It is an important part of the coke transport system, from the facility to the port,” Ina said.

INA said that works on the construction of the port were under way and that “more than 650 workers were involved” in that project at the refinery every day.

Operating Director of Refining and Marketing at INA, Goran Plese, said that despite the uncertainties and challenges at the global market and the difficulties caused by coronavirus, the works on the project continued without interruption.

(€1 = 7.51 kuna)