Sibur-Neftekhim eyes C2, MEG output hikes in 2008

11 December 2007 09:00  [Source: ICIS news]

MOSCOW (ICIS news)--Sibur-Neftekhim expects its ethylene (C2) production to rise from an estimated 240,000 tonnes this year to 260,000 tonnes in 2008, the company said in a statement on Tuesday.

 

The company intends to raise its monoethylene glycol (MEG) production to 230,000 tonnes in 2008 from estimated 220,000 this year.

 

Sibur-Neftekhim also anticipates its net profit to reach roubles (Rb) 330m (€9.2m/$13.5m) in 2007, up from Rb317m (€8.9m/$13m) in 2006, the statement said.

 

Sibur-Neftekhim is a subsidiary of Russia's major petrochemical holding Sibur based at Dzerzhinsk in the Nizhny Novgorod region of central Russia.

In August, Sibur approved a €126m project to raise ethylene nameplate capacity at its Kstovo plant up to 430,000 tonnes/year by 2010.

($1 = Rb24.43/€1 = Rb35.94)

By: Sergei Blagov
+44 20 8652 3214

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