Russia's Sibur eyes higher output, investments

24 January 2008 10:20  [Source: ICIS news]

MOSCOW (ICIS news)--Sibur Holding is planning a significant increase in production and investments this year, the Russian petrochemical major said on Thursday.

Sibur plans to produce 15m tonnes of petrochemical products in 2008, up from 13.9m tonnes last year.

It also plans to invest roubles (Rb) 40.9bn (€1.14bn/$1.66bn), more than double its investment of Rb19.9bn last year, to upgrade its production facilites, the company said in a statement.

Of the total, Sibur aims to produce 2.174m tonnes of monomers, 9% up from 1.996m tonnes in 2007, 507,000 tonnes of polymers, 1% up, 595,000 tonnes of synthetic rubber, an increase of 7%, and 1.661m tonnes of mineral fertilizers, 4% up from 1.598m tonnes, according to the statement.

The company's investment programme for 2008 includes spending Rb17.7bn (€492m/$719m) to build new polymer production facilities in Tobolsk and Tomsk, a new polyvinyl chloride (PVC) plant in the Nizhny Novgorod region and a new polystyrene (PS) facility at Sibur-Khimprom, the statement said.

Sibur would also allocate Rb4.3bn to upgrade its synthetic rubber production facilities and Rb8.7bn for its Yuzhno-Balyk and Nizhnevartovsk gas processing plants, as well as gas processing facility at Tobolsk-Neftekhim, it said.

($1 = Rb24.62/€1 = Rb35.99)

By: Sergei Blagov
+44 20 8652 3214

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