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NKNKH will increase the production of polypropylene and polystyrene by 2.5 times by 2024

July 19/2021

MOSCOW (MRC) -- Nizhnekamskneftekhim plans to increase the production of polypropylene and polystyrene by 2.5 times in 2024, said the company.

Thus, the total volume of plastics production will reach more than 1.4 million tons, "the statement says. According to Anas Zakirov, head of the department for promoting system solutions at NKNKH, in order to increase the competitiveness and profitability of production, the enterprise has begun work on assessing its own capabilities for the production of small and medium-sized chemicals.

The largest petrochemical holdings in Russia - SIBUR and TAIF - in April announced plans to combine their assets. Within the framework of the merger, a company will be created on the basis of SIBUR Holding, in which the current shareholders of TAIF PSC will receive a 15% stake in exchange for the transfer of a controlling stake in a group consisting of petrochemical and energy enterprises. The remaining stake in TAIF can be subsequently purchased by the merged company. The merged company of SIBUR and TAIF will include the parent company of the Tatarstan group, as well as two of its chemical plants and an energy company, including NKH and KOS.

As per ICIS-MRC Price Report, Some market participants said demand and supply of Nizhnekamskneftekhim"s material were generally balanced. There was no sharp surge in demand this month, despite a major price reduction. Prices of Nizhnekamskneftekhim"s GPPS were in the range of roubles (Rb) 152,000-163,000/tonne, whereas HIPS prices were at Rb156,000-167,000/tonne CPT Moscow, including VAT. A major trader offered GPPS for sale at Rb155,000/tonne CPT Moscow, including VAT.

Nizhnekamskneftekhim is one of the largest petrochemical companies in Eastern Europe, occupying a leading position among domestic producers of synthetic rubbers, plastics and ethylene. The nomenclature of manufactured products includes more than 120 items. The products of the joint-stock company are exported to 50 countries in Europe, America and Southeast Asia. The share of exports in the total volume of production is about 50%.
Author:Anna Larionova
Tags:PP, PS, Nizhnekamskneftekhim, Russia.
Category:General News
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