ERJ staff report (EPN)
Jamnagar, India -- Russian petrochemicals giant Sibur has extended its geographic reach into South Asia with the launch of a new subsidiary in India.
The offshoot, Sibur Petrochemical India, will carry out petrochemical product market research and business development in India, including government relations.
But its primary role is to support the group's $450m joint venture project to construct a 100,000 tpa butyl rubber production plant in Jamnagar. The Reliance Sibur Elastomers Private plant, due to go on stream in mid-2014, is a partnership with the leading Indian industrial group Reliance Industries.
Moscow-based Sibur's newest subsidiary will work alongside its Indian partners to support group employees coming to India to carry out installation and start-up work at the new production site, it stated.
Evgeny Griva, formerly advisor to Sibur's managing director for planning, logistic and sales support, was appointed CEO of the Indian subsidiary.
Synthetic rubber from the jointly owned Jamnagar plant will be aimed at India's automotive industry which today consumes more than 75,000 tonnes per year, all of it imported. When completed, the unit, 74.9% Reliance and 25.1% Sibur controlled, will be the world's fourth largest butyl rubber producer worldwide.
In February, when Sibur first announced its joint venture deal, it said the partners also signed a licence agreement allowing the use of Sibur's proprietary butyl rubber production technology at the Indian plant. This is the first joint project where the Russian group is involved as the technology licensor.
From European Plastics News (A Crain publication)
Press release from Sibur