Russian state-run bank offers credit line to Tobolsk-Polymer LLC

23-Sep-09
Russia’s state run bank -Vnesheconombank, has opened a US$153 mln credit line for Tobolsk-Polymer LLC, a subsidiary of SIBUR Holding, Russia's largest petrochemical company. The funds will be used to finance the construction of a polypropylene production complex in Tobolsk (Tyumen region) with a capacity of 500,000 tpa. Work is expected to commence in 2010-11, while the plant is slated for pre-commissioning work in Q2-2012. The project is focused on improving the efficiency of Russia's natural resources, ecology and environmental protection. It will also provide a boost to industries such as housing and communal services, as well as car manufacturing.
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