Sinopec, Sibur announce JV, expansion for Krasnoyarsk NBR plant
ERJ staff report (DS)
Moscow - Sinopec is planning to take a 25 percent stake in Sibur's Krasnoyarsk plant which makes nitrile rubber (NBR). The prospective joint venture company expects to expand the facility to 56 kt/year, from the current figure of 42 kt/year.
The two companies said the plans are likely to be finalised and a final decision taken on the JV by the end of 2012.
Dmitry Konov, CEO of Russian petrochemical holding company SIBUR, and Wang Tianpu, President of ChinaPetrochemical Corporation (Sinopec Group), on Saturday (28 April, 2012) signed a cooperation agreement during the Russian-Chinese Forum on commercial investment cooperation.
The cooperation agreement describes the mechanism for the financing of the JV, as well as arrangements relating to share capital, management, raw material supply and marketing.
This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.
Press release from Sibur
This article is only available to subscribers - subscribe today
Subscribe for unlimited access. A subscription to European Rubber Journal includes:
- Every issue of European Rubber Journal (6 issues) including Special Reports & Maps.
- Unlimited access to ERJ articles online
- Daily email newsletter – the latest news direct to your inbox
- Access to the ERJ online archive