NKNKh will also continue working on a “pre-investment study” for a new olefins complex with a capacity of 1m tonnes/year of ethylene, along with integrated polyethylene and polypropylene plants, it said without disclosing further details about the project.
In 2012, the company awarded a contract for work on the complex to ?xml:namespace>
NKNKh also disclosed on Friday that its 2013 earnings before interest, tax, depreciation and amortisation (EBITDA) fell 42% year on year against a “backdrop of disadvantageous external factors” due to a slowdown in the growth of the global economy.
“First and foremost, this was reflected in a substantial decrease in rubber prices,” it added.
"2013 was an unfavourable year for rubbers in light of the stagnant European market and growth slowdown in
Another negative was a decline in butadiene monomer prices by almost 40% which negatively affected butadiene rubber prices, it said.