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 ?xml:namespace>
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)
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