FAS has started to analyze the deal between ChemChina and Rosneft on the purchase of Eastern Oil Chemicals Company

​FAS has started to analyze the deal on the purchase by China National Chemical Corporation (ChemChina) of a stake in the project of Eastern Oil Chemicals Company.

In September Rosneft signed documents for the amount of over $30 bln in China.

Rosneft and ChemChina signed the conditions of the agreement concerning the cooperation in the sphere of investment into the registered capital of ChemChina Petrochemical Corporation and memorandum of understanding in respect of cooperation by the project of Eastern Oil Chemicals Company.

Rosneft offered the control over Eastern Oil Chemicals Company in exchange for 30% in ChemChina Petrochemical.

Eastern Oil Chemicals Company was founded for the realization of the plan of construction of an oil chemicals complex with the capacity of 10-30 mln tons of raw materials a year in the Primorie region.

The value of the construction was assessed at 1.3 trln roubles in 2014.

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