NPP Neftekhimiya is a an associate company of Moscow Oil Refinery, whose core business is the manufacture of PP used in the construction, automotive and packaging industries. Details of the share sale were not available.
The 100,000 mt/year PP plant, located near the Moscow Oil Refinery, will use propylene feedstock from Gazprom Neft and other suppliers, the statement said. The plant has been designed by Italy's Technimont.
Both companies would also consider raising the plant's capacity by 50% to 150,000 mt/year at a later date.
"Due to the new partnership, Sibur is becoming the largest polypropylene manufacturer in this country," Alexander Dyukov, the chairman of the board of directors of Sibur, said. "After the company completes construction of the propylene manufacturing complex in Tobolsk, and joint plans for eventual expansion of Neftekhimiya are realized, the Russian market will finally turn from an importer into an exporter of one of the deep conversion products of raw hydrocarbons."
Anatoly Cherner, chairman of the board of Moscow Oil Refinery, added that partnership with Sibur would allow the Moscow Oil Refinery to enlarge its sales market for processed oil products and increase the efficiency of the refinery's polypropylene production.
China Chemical Weekly: http://news.chemnet.com/en/detail-1411716.html
