Russia's Salavatnefteorgsintez and SIBUR Holding had recently signed a Memorandum of Understanding (MoU) to create a joint venture under the name Salavat Petrochemicals Complex LLC (SPCC). SPCC is expected to become a major industrial complex, including large-volume production of lower olefins (ethylene, propylene) through pyrolysis of straight-run gasoline and liquefied hydrocarbon gases. Also, the plant will incorporate further processing of olefins and side products of pyrolysis into marketable petrochemicals, such as polyethylene, polypropylene, ethylene glycol, benzene, and butadiene. According to the MoU, the SPCC project will be implemented on a parity basis. The new enterprise will be located at Salavatnefteorgsintez's production site and will be run by a joint project team.