Petrovietnam to build Dagestan oil refinery

Vietnam’s state-owned PetroVietnam  has agreed in principle to invest up to $300m in the construction of an oil refinery in Dagestan – the republic’s first. The refinery will have an annual capacity of of 6m tons of motor fuel of Euro 5 standard or above. The oil will be extracted from the Caspian Sea.
The move suggests that Dagestan’s recent troubled past may be behind. Violence flaired in 1999 when the Chechnya-based Islamic International Brigade (IIB) invaded the republic  in support of  separatist rebels. The war ended with a major Russian victory and the retreat of the IIB. The ‘Invasion of Dagestan’ was the casus belli for the Second Chechen War.

Source: Izvestia