Gazprom Neft plans to invest €70 mln in petrochemicals in cooperation with Sibur

22-Mar-12

In 2012, Gazprom Neft plans to invest up to RUB3 bln (€70 mln) in developing its petrochemical business, in cooperation with Sibur, as per European Plastics News. The deal will allow Sibur and Gazprom Neft to expand its business in the profitable segment of the market. The two companies have already launched a joint project for polypropylene production at a Moscow refinery. Neft and Sibur are currently working on the next project, which will involve production of polypropylene at a plant in Omsk which is owned by the Titan Group.