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 c?xml:namespace>
($1 = Rb29.88, €1 = Rb40.67)
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