06 November 2013 10:57 [Source: ICIS news]
(recast, clarifying SIBUR acquired a 100% stake in BIAXPLEN in 2012, from a 50% stake in 2009)
LONDON (ICIS)--Russia-based petrochemicals producer SIBUR announced on Wednesday the opening of a new biaxially oriented polypropylene (BOPP) plant in Tomsk, Siberia.
Launched by BIAXPLEN, the BOPP producer that SIBUR acquired a 100% stake last year, the 38,000 tonne/year facility required an investment of Russian rubles (Rb) 2.4bn (€54.7m, $73.8m), excluding VAT. The facility is located on the site of SIBUR’s Tomskneftekhim plant, which is the company’s key polypropylene supplier.
“SIBUR is investing in the development of new polymer production plants and is focussed on expansion of its processing facilities. Implementation of these projects is aimed at improvement of our polymers sales,” said Leonid Mikhelson, chairman of SIBUR’s board of directors.
SIBUR estimates that Russian BOPP consumption – which reached 124,000 tonnes last year according to data cited in a company statement – will continue to grow at an average of 4-5% per year.
Products from the site will be sold in the local Siberian and Ural Russian federal districts, as well as Ukraine, Belarus, Kazakhstan, and Uzbekistan. The company will also market BOPP in Poland, Italy, France, Turkey and the Baltic states, SIBUR added.
At the time of SIBUR’s acquisition of BIAXPLEN, the company had BOPP plants in Kursk, Moscow and Nizhny Novgorod, with a total capacity of 87,000 tonnes/year.
($1 = €0.74, €1 = Rb43.84, $1 = Rb32.54)
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