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The world's fifth largest polyolefin producer released

 Last Update: 2021-10-20
 Source: Internet
 Author: User

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Sinochem News on October 4th, Russian media such as TASS News Agency reported that Russia's largest petrochemical company Sibul and Russian oil refining and natural gas processing giant Taif Group have reached an asset merger agreement
.

So far, the two companies have successfully completed the merger and will become the world's fifth largest producer of polyolefins and polyolefin elastomers

It is reported that Sibul and Taif announced in April this year that they would merge part of their assets
.

According to the data provided by SIBUR, if the future production capacity of the company's two large projects in the Amur region is included, the joint entity polyolefin production capacity of SIBUR and Taif will reach 8.

After the merger of the assets of the two companies, the assets of Sibur's large petrochemical complex in Lower Kamensk in West Siberia will also be included in the joint entity
.

After the completion of the complex, it is expected to be able to produce 1.

Other assets of the new entity include the Kazanorgsintez facility in Siber
.

The base is the only Russian ethylene - vinyl acetate production base, and produce bisphenol A polycarbonate and other products

As for Taif, as a state-owned enterprise of the Republic of Tatarstan in Russia and the largest unlisted petrochemical company in Russia, Taif controls most of Tatarstan’s chemical, petrochemical, and oil and gas processing sectors
.

In 2020, the company’s base in the Republic of Tatarstan produced 64% of Russia’s rubber and 28% of plastics.

The two companies also stated that the priorities listed in the agreement will be the implementation of projects to reduce greenhouse gas (GHG) emissions and improve the recycling of polymer waste, but did not disclose more details
.

SIBUR has increased its investment in the CIS countries in recent years
.

In June of this year, the company stated that it had signed a framework agreement with Kazakhstan’s sovereign wealth fund Samruk Kazyna and Kazakhstan’s state-owned oil and gas company KazMunayGas to participate in the development of Kazakhstan’s nearly 2 million tons/year polymer project

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