Written on 13.08.2013 - Industry
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Sibur and Sinopec finalise synthetic rubber JV in Krasnoyarsk

The JV was signed by Dai Houliang, SVP at Sinopec, and Vladimir Razumov during Sinopec’s visit to Russia.

Sibur and China Petroleum and Chemical Corporation (Sinopec) have established a joint venture to produce nitrile butadiene rubbers (NBR) on the site of Sibur’s Krasnoyarsk Synthetic Rubber Plant (KZSK) in Russia.

To complete the transaction, Sinopec purchased 25 % plus one share of KZSK, allowing it the opportunity to nominate one of its own representatives as a director on the JV’s board. The deal was approved by Russian and Chinese regulators. The KZSK site currently has 42,500 t/y of NBR capacity, which Sibur and Sinopec are considering expanding to 56,000 t/y.

“China is a major consumer of KZSK produced nitrile butadiene rubbers and with a strong partner like Sinopec on board, we can ramp up KZSK’s capacity and drive growth in synthetic rubber sales,” noted Vladimir Razumov, executive director of Sibur.

Separately, the two companies are discussing establishing a JV to produce 50,000 t/y of NBR and 50,000 t/y isoprene rubber in Shanghai, China.