Sinopec to buy stake in SIBUR NBR plant in Russia

30 April 2012 16:59  [Source: ICIS news]

LONDON (ICIS)--China Petroleum and Chemical Corporation (Sinopec) plans to acquire a 25% stake in a nitrile rubber (NBR) plant in Krasnoyarsk, Russia, owned by Russian chemicals producer SIBUR, it was announced over the weekend.

Sinopec and SIBUR said they will consider expanding the plant’s production capacity from 42,000 tonnes/year to 56,000 tonnes/year.

“A final decision on the establishment of the joint venture is expected by the end of 2012,” they said in a joint statement.

Sinopec president Wang Tianpu and SIBUR CEO Dmitry Konov signed the cooperation agreement during a Russian-Chinese investment forum.

SIBUR revealed plans to create the NBR joint venture in Krasnoyarsk with Sinopec in October last year.

By: Anna Jagger
+44 20 8652 3214

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