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The dramatic tumble of the ruble has not had a negative impact on petrochemical giant SIBUR, the company confirmed during a press event in London, UK, yesterday, due to the diversity of its revenue streams and the international markets in which it operates.
Global polypropylene capacity increased at a Compound Annual Growth Rate (CAGR) of 5.2 per cent from 2003, reaching 65 million tonnes per year in 2013, and is expected to continue rising to 86m tonnes by 2018, at a slightly higher CAGR of 5.8 per cent, according to research and consulting firm GlobalData.
Gazprom Neft, SIBUR and Titan Group have signed an agreement to establish a joint venture based on Omsk Polypropylene Plant (Polium). As part of the deal, Sibgazpolimer, a joint venture of SIBUR and Gazprom Neft (each having a 50 per cent stake), acquired a 50 per cent stake in Poliom from Titan Group.
South Korean firm Han Jin has signed an agreement with ips Intelligent Pelletizing Solutions GmbH for the latter to take over the exclusive sales and service of its strand pelletising systems across Europe. Russia is excluded from the agreement.