The companies will hold interest in the JV in the amount of 60% and 40%, respectively.
Set to become the world’s largest basic polymer production facility, Amur GCC will have a capacity of 2.7 mtpa, including 2.3 mtpa of polyethylene and 400 ktpa of polypropylene, and will be producing a wide range of grades.
- SIBUR and Sinopec have a long track record of jointly delivering on large-scale investment projects
- creating a joint venture is a major milestone in our Amur GCC project
- with Sinopec we will be able to maximise the project’s efficiency
- in particular optimising and balancing the facility's future debt portfolio
- while also enhancing its expertise in distribution across Asian markets
The completion of construction and commissioning is scheduled for 2024.
- Amur GCC will also become a model for Sino-Russian energy cooperation to extend to downstream chemical industry
- it will inject new impetus into advancing the high-quality cooperation between the 2 countries in the fields of energy, chemical industry, investment, economy and trade
- it will play a positive role in effectively promoting the sound interaction of domestic and international markets
- as well as the economic development, employment and social well-being of the Far East region
Given the facility’s geography, its products will be targeting Asian markets, primarily China, which is the largest consumer of polymers globally.
Gazprombank acted as the lead arranger and lender, with Otkritie and Sberbank as arrangers and lenders.