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Tatneft bought Russian PET producer Ecopet

June 10/2021

MOSCOW (MRC) - Tatneft won the tender for the purchase of the largest polyethylene terephthalate production in the Russian Federation - Ecopet Group (Kaliningrad), which was sold by Trust Bank, the manufacturer said.

According to the bidding materials, Tatneft acquired Ecopet for 6.45 billion rubles at an initial price of 3.75 billion rubles. Four participants were admitted to the auction. Trust sold in a single lot the shares and shares of the companies included in Ecopet - 100% of Ecopet JSC (industrial complex), 100% of the shares of Ecopet Trade House LLC (trading house), 100% of the industrial park of BaltTechProm LLC, and also the claims against these companies.

"The acquisition of Ecopet will allow the most efficient implementation of the company's plans for the development of the petrochemical direction and will contribute to the achievement of the Tatneft group's goals to reduce greenhouse gas emissions along the entire value chain. The signing of legally binding documents on the deal is expected in the coming weeks," NK press release.

Earlier it was reported that the Ecopet plant (Kaliningrad) in 2020 increased the export volume of polyethylene terephthalate (PET) compared to 2019 to 21%, despite the situation due to the COVID-19 pandemic and the slowdown in economic growth. The plant produces 690 tons of PET per day, increasing productivity during the pandemic by 4.5%.

According to the ICIS-MRC Price Report, spot price of domestic material in Russia iin early June did not change as a whole. Price offers of Russian plants to spot buyers for volumes of 20-100 tonnes this week were in the range of roubles (Rb) 125,000-130,000/tonne CPT Moscow, including VAT. PET chips from SIBUR was offered at Rb125,000-129,000/tonne CPT Moscow, including VAT. Spot prices from Ecopet this week have remained in the range of Rb125,000-130,000/tonne FCA Tuchkovo, including VAT.

Ecopet is the largest enterprise for the production and sale of polyethylene terephthalate (PET) in Russia and Eastern Europe, Tatneft notes. The enterprise was commissioned in 2011. The nominal capacity of the PET plant is 220 thousand tons per year. The enterprise uses the MTR (Melt-To-Resin) technology of the German company Uhde Inventa-Fischer (UIF). It is located on the territory of the Baltic Industrial Park and is a resident of a special economic zone in the Kaliningrad region. The plant has its own railway line and is located near the international sea trade ports of Kaliningrad and Baltiysk.
Author:Anna Larionova
Tags:PET-granulate, PET bottles, PET films, PET preforms, Tatneft, EcoPet, Russia.
Category:General News
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