Russia's Nizhnekamskneftekhim plans 1m tonne/year ethylene plant

24 January 2011 09:59  [Source: ICIS news]

MOSCOW (ICIS)--Nizhnekamskneftekhim increased sales and profits in 2010 and plans to build a new ethylene (C2) facility, the Russian petrochemical company said on Monday.

The company's board has approved a business plan for 2011-2016 which includes a proposal for a new 1m tonne/year ethylene production unit, Nizhnekamskneftekhim said without disclosing further details.

Nizhnekamskneftekhim recorded a gross profit of roubles (Rb) 7bn ($234m, €172m) in 2010, up from Rb2.9bn in 2009, the company added.

Its sales of Rb94bn in 2010 were up from Rb57.3bn in 2009.

Based at Tatarstan in central Russia, Nizhnekamskneftekhim produces more than half of the country's total styrene and butyl rubber output, and nearly half of its isoprene rubber, polystyrene (PS) and monoethylene glycol (MEG) output.

($1 = Rb29.88, €1 = Rb40.67)

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By: Sergei Blagov
+44 20 8652 3214

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