Russia's Sibur eyes lower investments for 2009

17 April 2009 15:53  [Source: ICIS news]

MOSCOW (ICIS news)--Russian petrochemical major Sibur plans to significantly reduce its investments in 2009 compared with the previous year, Sibur CEO Dmitry Konov said on Friday.

Konov did not disclose specific details about the company’s investment plans for the year. However, he said the company's gas-processing projects could be delayed.

In January 2009, financial problems led Sibur to request state aid for its ongoing projects to build a new PVC plant in Russia’s Nizhny Novgorod region and a new polypropylene (PP) plant in Tobolsk.

In 2008, Sibur invested roubles (Rb) 40.9bn ($1.2bn, €927.4m), up from Rb19.9bn in 2007, to upgrade its production facilities, according to the company.

($1 = Rb33.42/€1 = Rb44.10)

Please visit the complete ICIS plants and projects database
To discuss issues facing the chemical industry visit ICIS connect

By: Sergei Blagov
+44 20 8652 3214

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly