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Russia's Sibur Secures $153 Million Line of Credit for Polypropylene Project in Tobolsk
GALWAY, IRELAND--October 7, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--Russian petrochemical major OJSC Sibur Holding (Moscow) has secured initial funding of $153 million (100 million euros) for the company's latest propylene and polypropylene venture in Tobolsk. The proposed petrochemical complex will house a polypropylene plant with a production capacity of 500,000 tons per year. The plant equipment is likely to be delivered to the site during the next year, and construction and other pre-commissioning tasks are expected to continue until mid-2012. Sibur, which is aiming to capture a large share in the growing plastics sector of the region, is expected to benefit from this new polypropylene venture, which to some extent will offset the volume of Russia's imports of polypropylene end products.
Other companies featured: Novatek OAO (RTC:NVTK), Fluor Corporation (NYSE:FLR), Maire Tecnimont SpA (BIT:MT), Linde AG (ETR:LIN)
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Industry Segment: Chemical Processing
Word Count: 556 Words
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