20 December 2011 15:07 [Source: ICIS news]
MOSCOW (ICIS)--Sibur has recorded higher preliminary output and sales numbers in 2011 compared with the previous year, the Russian major petrochemical holding company said on Tuesday.
This year, it is estimated Sibur will produce 14.3m tonnes of petrochemical products, up 6% year on year. Sales in 2011 are expected to reach roubles (Rb) 255bn (€6.1bn), a rise of 40% year on year, the company added.
Sibur's investments in 2011 are expected to amount to Rb58.6bn, excluding acquisitions of interest in other businesses, said Sibur CEO Dmitry Konov.
The company aims to divest its fertilizer and tyre-making assets by the end of 2011 or in January 2012, Konov said in the company announcement.
Konov added that Sibur is considering a new project at Tobolsk in western Siberia that would produce up to 1.5m tonnes/year of ethylene and 1.5m tonnes/year of polyethylene (PE). However the project, tentatively called Zapsibneftekhim, is not expected to be launched before 2017.
(€1 = Rb41.76)For more on ethylene and PE visit ICIS chemical intelligence
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