Project Summary
2. The need to eliminate the possible industrial accidents. In order to reduce the maximal impact from this risk, the project provides to include the liability insurance into the list of the costs of the Complex. This insurance covers the liability if the organization operates with hazardous production facilities; the limit of insurance coverage is up to 1.25 billion U.S. dollars. Deposit insurance coverage in the amount of financial reserves, the company provided for the project, provide the total amount of funds that can be directed at the elimination of consequences of the implementation of the risk of up to 2.5 bln USD. 3. The termination of all or part of finished products manufacturing due to the equipment failure. It can lead to production and financial performance failure. In order to minimize this risk, the following solutions are provided by the project: 3.1. The qualified and responsible staff recruitment. 3.2. The insurance on the equipment, buildings and infrastructure is to be included into the list of the Complex expenses. The insurance coverage limit is up to 10 bln USD. 3.3. The significant planned investments into the quarterly preventative maintenance are to be included into the list of the Complex expenses. 3.4. The significant planned investments into the biennial stopping repairs are to be included into the list of the Complex expenses. 3.5. The industrial safety system of the Complex provides continuous monitoring of the technological equipment at the units, performing the activities in order to improve the personnel skills and carrying out other efforts for preventing the accidents. 3.6. The industrial safety system of the Complex is to be certified according to the international industrial safety standards of ISO 14001 and OHSAS 18001. There is a risk of production plans failure during the project implementation caused by various managerial and manufacturing circumstances. In order to reduce its
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Project Environment