Russia's Sibur denies interest in Belarus Grodno Azot takeover

13 July 2011 11:23  [Source: ICIS news]

MOSCOW (ICIS)--Sibur is not currently considering negotiations to acquire Belarus’ state-owned fertilizer producer Grodno Azot, a spokesman for the Russian petrochemical holding company told ICIS news on Wednesday.

Sibur's statement followed conflicting remarks from visiting Belarus Prime Minister Mikhail Myasnikovich, in Moscow on 12 July. He said Sibur had discussed a takeover of Grodno Azot.

He added that Russian oil companies Rosneft and Lukoil had expressed an interest in Belarus’ Naftan and Mozyr refineries.

Grodno Azot currently has the capacity to produce 700,000 tonnes/year of mineral fertilizers. The company exports about 40% of its production volumes.

Last year, Grodno Azot adopted a mid-term development programme. The company aims to increase its production capacity by 40% by 2016, according to the programme.

By: Sergei Blagov
+44 20 8652 3214

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