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Sibur approves financing guarantees of the Amur GCC for $ 10 billion

CIS GAS MONETISATION

Sibur approves financing guarantees of the Amur GCC for $ 10 billion

Shareholders of Sibur Holding approved interrelated transactions in connection with the organization of financing for the Amur GCC. The company reports a sum of $ 10 billion in funding from Russian and foreign financial institutions during a period of up to 15 years - Rupec

The deal has two sponsors - Sibur and Sinopec, with the Russian side guaranteeing 60% of the obligations - up to 6.6 billion dollars (485.562 billion rubles).

The list of creditors includes Bank of China, China Construction Bank, China Development Bank, The Export-Import Bank of China, Industrial and Commercial Bank of China, Gazprombank, Sberbank of Russia, Otkritie Bank, Alfa-Bank, Credit Bank of Moscow, UniCredit, Societe Generale, Intesa Sanpaolo, Deutsche Bank, DZ Bank, ING, Credit Agricole CIB, Cassa Depositi e Prestiti SpA, Citi, Helaba.

The Amur Gas Chemical Complex is a joint project of Sibur and the Chinese company Sinopec. The capacity of the complex will amount to 2.7 million tons of products per year: 2.3 million tons of polyethylene and 400 thousand tons of polypropylene. The complex's products will be represented by a wide range of brands.

Completion of construction and commissioning works is scheduled for 2024.

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