A Russian joint venture backed by led by Gazprom's chemicals arm Sibur and up to 30% owned by Russia's No. 2 gas firm Novatek, plans to build the world's biggest polypropylene plant in the Siberian town of Tobolsk. The two JV partners already signed a deal under which more than US$2 billion would be invested in the plant.
The venture would be funded by bond issues and share issues. Tax breaks from the local administration would help the project. In the first, three-year stage, which was already underway, the venture would invest US$1 billion to launch the plant in 2010, when it would triple Russia's annual polypropylene output of 270,000 tons and produce 500,000 tons of polyethylene. The second phase will augment the plant's polypropylene production to 1.3 million tpa between 2010 and 2013.
07-Jun-07 
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