Sibur buys 15% in Stroytransgaz’s subsidiary

Sibur has received 15% in Stroytransgaz-M (STGM), which previously wholly belonged to Stroytransgaz of Gennady Timchenko, the Kommersant reports.

The deal, as the Kommersant notes referring to its sources, was carried through an additional issue. Its parameters were agreed in December, 2013. The transaction’s value doesn’t exceed several tens of millions of rubles.

"The partnership of Sibur and one of the leading Russian engineering companies will allow them to improve the quality of services, provided for the construction of large industrial facilities, and will promote the development of the entire Russian engineering market," - the holding company explained.

Sibur is already one of clients of STGM that is engaged in the construction of oil and gas and petrochemical industries “ready-to-operate” facilities. In particular, in June STGM signed a contract with SiburTyumenGaz for the construction of a gas-processing plant under expansion of the Vyngapurovsky gas-processing plant.