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

CIS PETROCHEMICALS

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)

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