Russian oil giant Rosneft has pledged massive investment in Russia’s southern Chechen Republic amid reports that the company could sell its regional assets to local government.
Rosneft chief Igor Sechin met with Chechen President Ramzan Kadyrov on Wednesday to discuss funding for Rosneft’s Chechnya-based subsidiary Grozneftegaz, the RBC news site reported.
As well as renovating the region’s oil infrastructure, the company promised to build homes for ordinary Chechen citizens, as well as Grozneftegaz employees.