The government has defined the order of return of the CPC foreign currency earnings, has informed Victor Hristenko

/IRBIS, Dec.15, 99/ According to ITAR TASS, which cites Victor Hristenko, the terms of return of the foreign exchange earnings for the equipment delivery for construction of the Caspian pipeline will be determined individually under each contract. This resolution was accepted today on the meeting at the first Vice- premier of Russian government Victor Hristenko with participation of the consortium representatives. As Hristenko said, the Currency-export Control, the Ministry of economy and the Ministry of trade of Russian Federation till December 23 of this year should present the agreed conclusion concerning the contract on delivery of remote terminals in the Central bank of Russia. On the basis of this document the Central bank of Russia will grant to the Caspian Pipeline Consortium the sanction to extension of terms of currency return. The similar conclusions will be prepared till December 27, 1999 for the other ten contracts on the CPC equipment delivery. As Hristenko has explained the terms of currency return will be determined depending on time required for the equipment production. The CPC project provides construction of an 1580 kilometers oil pipeline with the throughput of 67 million tons of oil per year, which will be transported from Kazakhstan to the Black Sea coast of Russia. The first turn of CPC of 28.2 million tons throughput should be completed by the middle of 2001.