13 July 2011 14:56 [Source: ICIS news]
LONDON (ICIS)--Russian petrochemicals producer Gazprom Neftekhim Salavat (GNS) plans to invest roubles (Rb) 140bn (€3.5bn, $4.9bn) in a petrochemicals expansion at its site in Salavat, Bashkortostan, Russia, director general Damir Shavaleev said on Wednesday.
The project, which involves upgrading existing facilities and building new plants, will centre on a 1.4m tonne/year cracker, he said in a statement to ICIS.
“The existing 300,000 tonne/year ethylene capacities will be expanded step-by-step to reach the target rate by 2022,” Shavaleev said.
The first phase of the project, known as the All-Russian Gas Chemistry Centre, will involve expanding ethylene capacity by 80,000 tonnes/year to 380,000 tonnes/year and high density polyethylene (HDPE) capacity by 80,000 tonnes/year to 200,000 tonnes/year, Shavaleev said.
GNS, which is controlled by subsidiaries of
Phase two will include investments in ethylene, propylene, HDPE, PP, ethylene oxide (EO), MEG, alpha olefins, benzene and butadiene, Shavaleev said.
The project will enable GNS to enter new federal and foreign markets, he said. “It will allow the company to increase its competitiveness, create new jobs and, as a consequence, improve the economic and social situation in the region,” he said.
Gazprom will act as the guaranteed feedstock supplier, Shavaleev added.
GNS, which changed its name from Salavatnefteorgsintez earlier this year, said the All-Russian Gas Chemistry Centre will include an industrial park for the production of pipes, films, moulded parts, thermoplastic elastomers and other products.
($1 = €0.71, €1 = Rb39.66)
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