Petrochemical Joint Venture Russian–Chinese Joint Venture in Petrochemical Industry on its Way
Two petrochemical giants join forces: China's Sinopec and Russian Sibur announced their intend to cooperate on two rubber joint ventures in China and Russia to serve the global growing demand for speciality polymers and rubbers.
Beijing/PR China – In the wake of Russian prime minister Vladimir Putin’s visit in China, China's petrochemical–giant Sinopec and the Russian market leader Sibur announced their intends to expand the cooperation with each another. A Memorandum of Extended Cooperation for the formation of two joint ventures in the butadiene nitrile rubber business with production sites in Krasnoyarsk (Russia) and Shanghai (China) has already been signed by company representatives. A cooperation for polyisopren rubber (IR) is considered for the future.
For two of the possible future joint ventures Sibur will provide polymerization and finishing technology. The existing NBR assets of the Krasnoyarsk rubber plant in Russia will be expanded to 56,000 tons per year, and the Shanghai facility will have a production capacity of approximately 50,000 tons per year.
“Sibur has advanced technologies for the production of the synthetic rubber, which in partnership with Sinopec will serve the growing needs of Chinese industry”, said Sibur’s CEO Dmitry Konov, commenting on the joint ventures. “We are satisfied with the dynamics of negotiation and hope to make a deal”.