20-21 Aug, 2014 - Jakarta, INDONESIA
Le Meridien Jakarta
Le Meridien Jakarta
SIBUR, a leading Russian gas processing and petrochemicals company, has entered a joint venture with Sinopec, the Chinese energy giant, to build a 50 ktpa butadiene nitrile rubber (or "NBR") plant. The plant will be located in the Shanghai Chemical Industry Park, which is 50km south of Shanghai.
While a 74.9% of the share in the JV will be held by Sinopec, SIBUR will hold the remaining 25.1%.
As part of the contract, a technology license agreement was also signed, whereby SIBUR's NBR production technology will be used in the new facility.
This is not the first time SIBUR and Sinopec has entered a JV. Last year, the 2 companies came together to produce rubber at the Krasnoyarsk synthetic rubber (KZSK) plant in Russia.
Sinopec owns 25 percent plus one share in this JV. Today, a large part of the KZSK products are delivered to the Chinese market.
With this new JV, SIBUR is trying to establish a modern competitive enterprise on China's territory while Sinopec is aiming to meet the market demand in China and also contribute to the country's economic development.
More insights on rubber and tire markets will be shared at 8th Global Rubber & Tire Markets, opening on 20-21 August, 2014 in Jakarta.
Contact Ms. Huiyan at huiyan@cmtsp.com.sg or call +65 6346 9113.
