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Russian state-run bank offers credit line to Tobolsk-Polymer LLC

September 23/2009
September,23 (plastemart.com)  -- Russia’s state run bank - Vnesheconombank, has opened a US$153 mln credit line for Tobolsk-Polymer LLC, a subsidiary of SIBUR Holding, Russia"s largest petrochemical company. The funds will be used to finance the construction of a polypropylene production complex in Tobolsk (Tyumen region) with a capacity of 500,000 tpa. Work is expected to commence in 2010-11, while the plant is slated for pre-commissioning work in Q2-2012.

The project is focused on improving the efficiency of Russia"s natural resources, ecology and environmental protection. It will also provide a boost to industries such as housing and communal services, as well as car manufacturing.       

 

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       MRC Reference

Sibur Holding is the largest Russian petrochemical group.

 

Shareholders:
 Gazprombank (70% minus 1 share);
 Gazfond (25% plus 1 share);
 5% reserved for option program.

 

The share in the Russian market in 2008:

 polyethylene - 11.1%;

 polypropylene – 16% (including PP-random - 11.2%);
 ABS – 5.2%;
 PVC – 8.1%.
 



 

 

 

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