09 October 2012 13:02 [Source: ICIS news]
LONDON (ICIS)--Belgian chemicals group Solvay and Russian petrochemical giant Sibur have agreed to form a joint venture for the production of surfactants and oilfield process chemicals in Russia, the companies said on Tuesday.
Known as Ruspav, the joint-held company will be based near Sibur’s petrochemical operations in Dzerzhinsk, 400km (248 miles) east of Moscow, and is expected to come onstream in 2015.
The agreement was signed in London on Tuesday.
Sibur will provide raw materials and production capacity to Ruspav, while Solvay will contribute its experience in the surfactants industry, as well as the customer networks of Novecare – the company’s dedicated surfactants subsidiary.
The consortium is also hoping to utilise Sibur’s presence in the Russian petrochemicals market to increase surfactants sales in the country, as well as the wider CIS region, the companies said in a statement.
The anticipated level of investment in the venture was not disclosed.
Demand for surfactants, which are primarily used in homecare and agricultural products and in the oil and gas industry, is currently growing by 6% per year, according to Sibur.
"This joint venture supports Sibur's ambition to expand commercialisation of its core products into carefully selected fast growing markets," said Valery Andosov, director of Sibur's Plastics and Organic Synthesis division.
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