Global Leader in International Petrochemical Industry News

posted in:


Sinopec Plans to acquire an interest in SIBUR’s Krasnoyarsk based plant

Wednesday, Oct 31, 2012

SIBUR, a Russian gas processing and petrochemicals company, and Sinopec International (Hong Kong) Co. Ltd, the wholly owned subsidiary of China Petroleum & Chemical Corporation (Sinopec), signed an agreement that will see Sinopec purchase 25% + 1 share of Krasnoyarsk Synthetic Rubbers Plant JSC (KSRP). The agreement was signed in presence of SIBUR’s CEO Dmitry Konov and President of China Petrochemical Corporation and China Petroleum & Chemical Corporation Wang Tianpu. The deal is to be approved by Russian and Chinese regulators.

Earlier the parties signed an agreement on cooperation to create a joint venture, which will produce nitrile rubbers (NBR) on the base of KSRP. Once the joint venture is established, the shareholders will also consider the possibility of increasing the plant’s annual NBR capacity from 42.5 to 56 thousand tonnes.

SIBUR and Sinopec are also discussing projects on setting up a joint venture to produce nitrile and polyisoprene rubbers in Shanghai. Future operations’ annual capacity for each type of rubber is currently estimated at the level of 50 thousand tonnes, to be determined more precisely once the feasibility study is completed.

Source: SIBUR

To access over 3,000 of the latest oil projects from across the world visit Projects OGP for free trial today

posted in:

Other Petrochemical News

First facility in the world using new advanced bioenergy technology to convert waste to renewable fuel and electricity 17-04-2014
INEOS Europe AG announces a new agreement with CONSOL Energy for the purchase of ethane from the USA for offtake to Europe 17-04-2014
AEI Introduced new Ceramifiable technology for Fire Survival Cables at Wire 2014. 15-04-2014
60 Years since first production at Angarsk Refinery 15-04-2014
Owl Computing Technologies deploys first Perimeter Defense Solution for Saudi Arabian petrochemical industry 15-04-2014
Linde nitrogen liquefier comes on-stream at Ohio air separation plant 11-04-2014
Syngenta in cellulosic fuel collaboration to increase ethanol plant productivity 11-04-2014
Global petrochemical prices fell 1% in March on Softer crude oil prices 03-04-2014
BP Bulwer Island Refinery Processing To Halt In 2015 02-04-2014
Air Products to supply nitrogen to Singapore Government's Jurong Rock Caverns 01-04-2014