We use cookies
to help provide you with a good experience on our website. By continuing to browse the website, you are agreeing to our use of cookies.

Sibur expects Chinese banks to participate in financing of Amur complex construction


Sibur expects Chinese banks to participate in financing of Amur complex construction

Chief Executive Officer of Russia’s petrochemical company Mikhail Karisalov told TASS on the sidelines of the St. Petersburg International Economic Forum that Sibur expects Chinese banks to participate in the financing of the Amur Gas Chemical Complex (GCC) construction.

Sibur’s target on investment in the project is below $10 bln, CEO added.

It is planned that Amur GCC will have a capacity of 2.7 mtpa, including 2.3 mtpa of polyethylene and 400 ktpa of polypropylene, and will be producing a wide range of grades.

An important part of financing is connected with Sinopec entrance. Consequently, we expect Chinese banks to join the total pool of those providing financing as well

Mikhail Karisalov, Chief Executive Officer, SBIBUR

As it is announced earlier the Amur GCC will be a world-scale ethane pyrolysis with the capacity of 1.5 mt and three PE units equipped with state-of-the-art technology.

The plant will be ready for pre-commissioning and commissioning in time for the construction of the fourth production line of Gazprom’s Amur GPP (no sooner than 2024)

Relevant news

Sibur and Linde to launch CO2 recycling project
The project is an integral part of SIBUR’s sustainable development strategy aiming to reduce GHG emissions by 15% by 20205, and as such it is expected to mitigate the impact of petrochemical production on the air quality.
RusKhimAlyans, Linde, and Renaissance Heavy Industries entered into an EPC contract
In line with the agreements achieved the consortium intends to begin operations at the construction site in June 2021.
Sibur eyes 40% stake in Kazakh gas chemical complex
SIBUR, Kazakhstan’s national welfare fund Samruk-Kazyna, and KazMunayGas have signed a framework agreement for potential cooperation in petrochemical industry
Russia fights to keep course on carbon and renewables amid budget squeeze
Russia’s next phase of renewable energy development looks like it won’t be as well-funded by the state as planned. That said, the announced cuts could have been worse, and corporates are stepping up plans to mitigate carbon, reports NEO.
Russian SIBUR announced Full Year 2020 financial & operating results
SIBUR announced today its operating & financial results for the Full-Year 2020.
Sibur, Gazprom Neft and Uzbekneftegaz consider investing in Shurtan Gas Chemical Complex
The cooperation agreements were signed by the 2 Russian companies and Uzbekneftegaz last week during an official visit to Moscow by a delegation from Uzbekistan’s energy ministry.