SIBUR and Sinopec Sign for Potential Chemicals Joint Venture, an Industrial Info Market Brief
SIBUR and Sinopec Sign for Potential Chemicals Joint Venture, an Industrial Info Market Brief
SIBUR Holding and China Petroleum & Chemical Corporation (Sinopec) signed a term sheet on a potential joint venture at the Amursky Gas Chemical Complex, according to local news. After a final investment decision that SIBUR will make this quarter, Sinopec could opt for 40% ownership in a joint venture.
Previously, SIBUR and Gazprom signed a long-term contract for the supply of the ethane to the new plant.
The Amursky Gas Chemical Complex is a grassroot project in the Amur region of Russia. The annual capacity of the new facility will be 1.5 million tons of ethylene and a combined 1.5 million tons of high-density polyethylene, low-density polyethylene and Butene-1, making it the largest plant of its kind in Russia's Far East. The estimated total investment investing in the project is $7 billion to $8 billion.
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