OAO Rosneft and Sinopec mull JV for 5 mln tpa petrochemical complex

OAO Rosneft – Russia’s oil and petrochemicals major is mulling formation of a joint venture with Sinopec Group to build a 5 million tpa petrochemicals plant in Primorsky Region of eastern Russia as per PRW.com. About US$22 mln will be invested in the complex, expected to be completed in two stages by 2014. The project is planned with capacity to process 20 million tpa of crude oil and investment will cover the construction of related infrastructure including pipelines, a power station and oil-loading port.
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