On July 28, Russia local time, General Manager JI Zhiyuan representing HCIST and the general manger from the Russian side signed the Feasibility Report Contract on Newly Built Oil Refinery Plant, marking HCIST’s further step on international market following Iran, Pakistan, South Korea etc.
JI Zhiyuan and his group arrived in Russia on July 26, and started the negotiation on cooperation with Russian side on July 27. The two sides, in the principle of mutual trust, exchanged opinions on the feasibility, technical processes, and financial operations of the newly built oil refinery plant. In a friendly and harmonious atmosphere, the Russian side highly praised HCIST’s oil refinery technology and both sides reached consensus on bilateral cooperation on July 28. HCIST would be in charge of the feasibility report preparation and the engineering design as well as support in equipment procurement in China, equipment installation, and follow-up technical services. HCIST started project work in full swing upon the signing of the "Feasibility Report".