Russia should substitute petchem imports for own production: Putin

15 October 2013 15:49  [Source: ICIS news]

MOSCOW (ICIS)--Russia needs to rely on its unique natural resources and substitute petrochemical imports for domestic production, President Vladimir Putin told a top level meeting on Tuesday.

"We must become masters of our own market," Putin told the meeting in Tobolsk, according to the presidential press-service’s statement.

In 2012, polymer production in Russia amounted to 3.5m tonnes, while polymer consumption reached 5m tonnes, he said. "There is a shortage of 1.5m tonnes, and we obviously need to work on that," Putin was quoted as saying.

The country's industrial policy prioritises support of domestic producers, including expansion of local petrochemical capacities, Putin said.

More incentives are needed so as to encourage domestic production of petrochemical products and discourage exports of raw materials, he said.

Russia currently pursues a long-term plan to develop the country's petrochemical sector until 2030, Putin said. This plan envisages creation of six major petrochemical clusters, he was quoted as saying.

Earlier on Tuesday, President Putin attended an official ceremony to start the operation of SIBUR's new 500,000 tonnes/year polypropylene (PP) facility in Tobolsk.

By: Sergei Blagov
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