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MOSCOW (MRC) -- During Russian
President Vladimir Putin’s state visit to China, SIBUR, a leading Russian gas
processing and petrochemicals company, signed a contract with China Petroleum
and Chemical Corporation (or "Sinopec") to establish a joint venture for the
construction of a 50,000 tpa butadiene nitrile rubber (or "NBR") plant at
the Shanghai Chemical Industry Park, 50km south of Shanghai, reported SIBUR on
its site.
Sinopec’s share in the joint venture will be 74.9% and SIBUR’s
will be 25.1%. Chinese President Xi Jinping and President Vladimir Putin were
both present at the signing ceremony.
The parties also signed a
technology license agreement for the use of SIBUR's NBR production technology at
the new facility. SIBUR’s specialists will take part in establishing the new
facility’s production and commercial operations.
Sinopec expressed, "Last
year the two parties developed a joint
venture on the site of the Krasnoyarsk Synthetic Rubber Plant (or KZSK) in
Russia. Sinopec purchased 25% + 1 share of KZSK. Today, a significant proportion
of KZSK products are delivered to the Chinese market through their partnership
with Sinopec. Sinopec believes that with the establishment of this new joint
venture in Shanghai, Sinopec will be better equipped to fulfil market demand and
contribute to China’s economic development."
SIBUR expressed, "China
remains a fast developing market, committed to replacing imports with domestic
production. Sinopec is a leader in this market with significant resource
capabilities, and this, combined with SIBUR’s advanced technologies for
producing butadiene nitrile rubbers, will enable a successful long-term
partnership between the two companies. It will also enable us to develop a
highly competitive production facility in China and expand SIBUR’s footprint in
the Asia market."
Butadiene nitrile rubber (NBR) is essentially an
acrylonitrile and butadiene copolymer obtained by the emulsion polymerization
method. Due to high resistance to aggressive agents NBR is widely used for the
manufacture of various oil-and-petrol resistant industrial rubber products. NBR
is essential to manufacture aircraft fuel tank seals, fuelling hoses, bag fuel
tanks, and aircraft window seals. The material is used in conveyor belts for the
food industry and in rubberised textile fabrics for aggressive
environments.
SIBUR is a uniquely positioned vertically integrated gas
processing and petrochemicals company. We own and operate Russia’s 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 2014, SIBUR
operated 27 production sites located all over Russia, had over 1,400 large
customers engaged in the energy, chemical, fast moving consumer goods (FMCG),
automotive, construction and other industries in approximately 70 countries
worldwide and employed over 27,000 personnel.
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. |
