SIBUR and BASF signed a memorandum of understanding formalising their partnership on sustainable development and circular economy, Hydrocarbon Engineering reports.
Companies agreed to collaborate on water efficiency, carbon footprint management, and chemicals recycling along with joining forces in implementing international environmental initiatives.
The document was signed by Maxim Remchukov, Sustainable Development Director at SIBUR, and Christoph Roehrig, Head of BASF in Russia and the CIS.
BASF has long-standing expertise and experience in the field of the circular economy, excelling in both achieving commercial success and demonstrating environmental and social responsibility. SIBUR is committed to sustainable business practices and is looking to implement the best initiatives and projects dedicated to this cause.Maxim Remchukov, Sustainable Development Director at SIBUR
He added that the partnership “will create substantial synergies for both companies helping us to achieve our goals.”
BASF has been pursuing its sustainable growth strategy for as long as 25 years. The signing of this memorandum comes as a significant milestone for our company, and we are particularly delighted to have SIBUR – a recognised leader in the Russian petrochemical market – as our partner. I am confident that our joint initiatives and projects will make a real difference in improving the well-being of present and future generations.Christoph Roehrig, Head of BASF in Russia and the CIS
In June 2019, SIBUR and BASF signed an agreement on the development of innovative solutions in the field of polymer production at the PolyLab Research Center. Investments in the creation of the center reached RUB 2.2 billion.