Sibur to invest €43.7m in new thermoplastic unit

26 January 2007 10:25  [Source: ICIS news]

MOSCOW (ICIS news)--Sibur Holding will invest Russian roubles 1.5bn (€43.7m/$56.5m) to build a new thermoplastic elastomer facility at its subsidiary Voronezhsintezkauchuk (Voronezh Rubber Co).

 

The new 40,000 tonne/year facility is scheduled to come on stream in 2010 and should reach full capacity in 2011, Sibur said on Friday.

 

Voronezhsintezkauchuk in Voronezh, central Russia, produces more than 200,000 tonnes/year of synthetic rubber and about half its total output is exported.

 

Sibur also said that the company's latest ratings, BB by Fitch Ratings and Ba2 by Moody’s, is a recognition of its improved financial situation.

 

International ratings will allow the company to secure better lending terms, if necessary, Sibur CEO Dmitry Konov added.

 

($1 = roubles26.6/€1 = roubles34.3)

By: Sergei Blagov
+44 20 8652 3214

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