PETROCHEMICAL firms Sinopec Chemical Commercial Holding (HongKong) Company Limited and Sibur form a joint venture to produce nitrile butadiene rubber (NBR) at the Krasnoyarsk plant;
China-based has acquired 25% plus one share of the synthetic rubber plant.
The nearly US$50 million worth venture is said to be established for 30 years, but may still be extended later on.
According to report, over 30% of the plant’s output will be supplied to the Russian market; half will go to China and the rest will be exported.
In April 2012, the two firms signed a framework agreement for a joint venture to produce NBR at the Krasnoyarsk Synthetic Rubber Plant. The plant has an annual production capacity of 42,500 tonnes, and following the establishmentof the joint venture, the possibility of expanding the plant’s capacity from 56,000 tonnes per annum could be considered.