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SIBUR and Sinopec establish a joint venture to produce synthetic rubbers in Krasnoyarsk

September 06/2013
MOSCOW (MRC) -- China Petroleum and Chemical Corporation (Sinopec Corp.), a major global petroleum and petrochemical enterprise group, and SIBUR, a leading Russian gas processing and petrochemicals company, entered into a joint venture developed on the site of the Krasnoyarsk Synthetic Rubber Plant (KZSK), siad Sibur in its press-release.

Sinopec purchased 25% + 1 share of KZSK. The deal was approved by Russian and Chinese regulators.
The joint venture was signed by Dai Houliang, Senior Vice President at Sinopec, and Vladimir Razumov, Executive Director at SIBUR, during Sinopecs visit to Russia.

Its newly acquired stake in KZSK, will give Sinopec the opportunity to nominate one of its own representatives as a director to the joint ventures board.  Earlier the parties signed a joint venture to produce nitrile butadiene rubbers on the KZSK site. The shareholders will also consider expanding the Krasnoyarsk Synthetic Rubber Plants capacity from 42,500 to 56,000 tonnes per year.

In addition, SIBUR and Sinopec are discussing establishing a joint venture to manufacture nitrile butadiene rubber and isoprene rubber in Shanghai. The production lines are expected to have an annual capacity of 50,000 tonnes each, subject to finalisation based on the feasibility study.

Krasnoyarsk Synthetic Rubber Plant JSC is a leading Russian producer of high-quality nitrile butadiene rubbers.
 Its production facilities include nitrile butadiene rubber plants with a total annual production capacity of 42,500 tonnes. Major consumers of the synthetic rubbers produced by KZSK are manufacturers of rubber products for the mechanical engineering, automotive, aerospace, and tractor industries.

SIBUR is a uniquely positioned vertically integrated gas processing and petrochemicals company. We own and operate Russias largest gas processing business in terms of associated petroleum gas processing volumes and are a leader in the Russian petrochemicals industry. As of 31 March 2013, SIBUR operated 27 production sites across Russia and employed over 30,000 personnel.  We serve over 1,500 large customers operating in the energy, automotive, construction, fast moving consumer goods (FMCG), chemical and other industries in pproximately 60 countries.

Sinopec Corp. is one of the largest scale integrated energy and chemical company with upstream, midstream and downstream operations. Its principal business includes: exploring, developing, producing and trading crude oil and natural gas; producing, storing, transporting and distributing and marketing petroleum products, petrochemical products, synthetic fiber, fertilizer and other chemical products. Its refining capacity and ethylene capacity rank No.2 and No.4 globally. Sinopec listed in Hong Kong, New York, London and Shanghai in August 2001. Sinopec Group, the parent company of Sinopec Corp., is ranked the 5th in Fortune Global 500 in 2012.
Author:Anna Larionova
Tags:caoutchouc, Sinopec, Sibur-Khimprom.
Category:General News
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