12 July 2010 14:24 [Source: ICIS news]
MOSCOW (ICIS news)--Russian petrochemical holding company Sibur on Monday launched a project to build a new polyvinyl chloride (PVC) plant in the Nizhny Novgorod region of the country.
A ceremony was held in Kstovo to mark the beginning of construction of the 330,000 tonne/year plant, Sibur said in a statement. The plant's capacity could eventually be raised to 500,000 tonnes/year, the company said.
The €750m ($949m) facility is being built at the site of Sibur’s Kstovo Petrochemical Plant.
In June 2007, Sibur formed a joint venture, RusVinyl LLC, to build the Kstovo PVC plant. RusVinyl is owned on parity basis by Sibur and SolVin, of which Solvay owns 75% and BASF 25%.
The new PVC plant was previously expected on stream in 2010, but now Sibur aims to complete the project in 2012.
($1 = €0.79)
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