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SIBUR to make investment decision on JV with Sinopec in 2022

September 09/2021

MOSCOW (MRC) - SIBUR Holding (Tobolsk) in 2022 may make an investment decision on a joint project with Sinopec in China for the production of nitrile butadiene rubbers (BNK) reports TASS with reference to the words of the managing director of the company Pavel Lyakhovich within the framework of VI Eastern Economic Forum.

"I think that by the end of this year, probably not, we will not be in time, but next year we will have to make a decision on this matter," Pavel Lyakhovich said.

In October 2019, SIBUR and Sinopec agreed to establish a joint venture in China for the production of nitrile butadiene rubbers with a capacity of 50 thousand tons per year. The share of SIBUR and Sinopec in the joint venture will be 40% and 60%, respectively.

"Together with our partners, we have finalized the technology. This technology can be exported to China. Further work was carried out with the selection of the location for the production site. Here we are now, after we have selected this production site, in the calculation of an investment project specifically for this investment site. this will be done, we will be able, together with a partner, to make a decision on the construction, according to our technology, of nitrile rubber in China, "added Pavel Lyakhovich.

In addition, SIBUR is not currently considering new projects in India, but a targeted expansion of existing production with Reliance Industries is possible. The production of butyl rubber, launched last year, reached its design capacity faster than SIBUR expected, and also has better consumption rates than those laid down in the justification of the investment project, said a member of the SIBUR board.

It was also previously reported that Saudi Aramco, Total and SIBUR refused from the petrochemical project in Saudi Arabia, since it does not have economic potential in the current market conditions, since it will in fact be similar to a similar SIBUR project in India.

"Our technology is in demand in the world, it is competitive. Here, 120 thousand tons of butyl rubber, this is a quarter of the world market. We have built a capacity according to our technology, which occupies a quarter of the world market," P. Lyakhovich stressed.

Earlier it was also reported that SIBUR sold the Chinese Sinopec 40% in Amur Gas Chemical Complex LLC for 18.274 billion rubles. SIBUR and Sinopec closed the deal to create a joint venture (JV) based on the Amur Gas Chemical Complex (MCC) at the end of December 2020.

SIBUR is the largest integrated gas processing and petrochemical company in terms of revenue in Russia, as well as in the CIS, Central and Eastern Europe. The company produces liquefied petroleum gases, natural gas and naphtha, various petrochemical products, including base polymers (PE and PP), synthetic rubbers, plastics, organic synthesis products, semi-finished products and other products.


mrcplast.com
Author:Anna Larionova
Tags:petroleum products, crude oil, PP, PE, neftegaz, petrochemistry, Reliance Industries, Sinopec, Sibur Holding, Russia.
Category:General News
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