SIBUR to focus on new investment projects
Sibur is looking to invest 360 billion roubles into a new plant.
Despite the fact that now the western market borrowing is virtually closed to Russian companies, SIBUR has decided to invest 360 billion roubles into the "Zapsibneftehim" polymer project and does not give up the joint gas chemical project with "Gazprom" in the Amur region. The company is sure in its financial stability, but analysts believe that without loans SIBUR has not enough funds.
SIBUR controlled by Leonid Michelson has finally approved the construction of the "Zapsibneftehim" plant in the Tyumen region with the capacity of 2 million tons per year. In 2012 -2013 the company made FEED for 6.7 billion roubles, and 26.5 billion roubles were invested into the project in H1 2014. The total investment is estimated at 360 billion roubles, the construction period – at about five years. In this regard, the SIBUR Board of Directors approved the capex increase for 2014 from 53 billion to 74 billion roubles.