IVANO-FRANKIVSK. Sept. 7 - Russia's Lukoil-Neftekhim is planning to invest about $1 billion in setting up a new facility to process plastic and raw petrochemicals at Ukraine's Karpatnaftokhim in the Ivano-Frankivsk town of Kalush.

"We estimate potential investment at this site at about $1 billion," Alexei Smirnov, Lukoil vice president and general director of Lukoil-Neftekhim, said at a meeting devoted to industrial development problems in Western Ukrainian regions on Thursday.