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SIBUR and the Silk Road Fund sign agreement to enhance cooperation

June 10/2019

MOSCOW (MRC) --  SIBUR and the Silk Road Fund entered into an agreement to enhance cooperation. The signing ceremony was attended by Xi Jinping, President of the People's Republic of China, and Vladimir Putin, President of the Russian Federation, said the producer on its site.

The agreement was signed by Dmitry Konov, Chairman of the Management Board at SIBUR Holding, and Wang Yanzhi, President at Silk Road Fund Co, Ltd.

Under the arrangement, the parties will be looking into investment opportunities to develop relations between Northeast China and Russias Far East, sharing information about market opportunities in Central Asia, Middle East and other regions, and coordinating efforts for potential joint investments in petrochemical projects.

"The agreement testifies to the strong investment appeal of petrochemistry as an industry that creates cutting-edge and green materials for construction, healthcare, car making, food, and other areas. Enhanced cooperation with the Silk Road Fund will help to grow economic ties between Russia and China," said Dmitry Konov, Chairman of the Management Board at SIBUR Holding.

As MRC wrote before, in June 2018, SIBUR said its plans to build a gas chemical complex in Russia's Far East will require preliminary investments of up to USD8 billion and it is still looking for Asian partners. SIBUR said a year ago that it had been in talks with a number of Chinese investors about participating in the project to build the complex in Amur.

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 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.
Author:Margaret Volkova
Tags:petrochemistry, Sibur Holding, China, Russia.
Category:General News
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