StockMarketWire.com - LukOil estimates damage caused by the fire at its Stavrolen petrochemical plant at around $25m.
Stavrolen's facilities are insured for the full reinstatement value.
The company said that according to the time schedule of manufacture and delivery of the new equipment, ethylene plant operation is expected to resume no later than on 1 April.
And it said recovery operations would not impair the timeline of the gas chemical facility construction project at Stavrolen's production site.
Nine people suffered mild first and second degree burns during the blaze on 15 December.
A commission set up to investigate the cause of the blaze is expected to finish its work by 13 January.
Story provided by StockMarketWire.com
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