ROSTOV-ON-DON, July 23. /TASS/. Construction of a Euro-5 gasoline and diesel plant will start in 2020 in Novoshakhtinsk, the Rostov Region, governor of the region Vasily Golubev told reporters on Tuesday.

"The investor initiates construction of the Euro-5 class 92-octane and 95-octane gasoline, Euro-5 diesel fuel and commercial liquefied petroleum gas plant as part of the first phase [of the project]. The first phase is estimated at about 70 bln rubles ($1.2 bln). Preparation of the land plot and process equipment identification and procurement activities are currently underway. Construction and installation work are planned [throughout] 2020," Golubev said. The plant is scheduled for commissioning by 2024, he noted.

"The second phase includes construction of the deep oil conversion unit," the governor added. It is estimated at 100 bln rubles ($1.6 bln) and will be implemented within five years, the governor pointed out. "The third phase is aimed at building treatment facilities; it will run in parallel to the second one," Golubev specified.

Over 1,000 jobs will be created following project implementation, the governor concluded.