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Russia approves Sinopec’s participation in the Amur Gas Chemical Complex

CIS PETROCHEMICALS

Russia approves Sinopec’s participation in the Amur Gas Chemical Complex

The Russian government has approved participation of China's Sinopec company in the Sibur project in the Far East region - the government said in a statement on Tuesday.

Source: Economic Times

The Amur Gas Chemical Complex, with investments of up to $11 billion, is set to start producing 2.3 million tonnes of polyethylene and 400,000 tonnes of polypropylene per year beginning in 2024-2025.

Sinopec is set to take a 40% stake in the complex. Sibur has said it could turn to Russia's National Wealth Fund to help finance the project.

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