The "ZapSibNeftehim" project receives $100 million from the funds of Saudi Arabia and the UAE.
Edited by Rhod Mackenzie / 2016-05-18 06:44:46
Finance Oil and Gas Refining Russia Petrochemicals PolymerUpdate Sibur Shares Russia Oil and Gas Production and Refining
Sibur, the largest petrochemical company in Russia and Eastern Europe, has received nearly 100 million US dollars from sovereign wealth funds in Saudi Arabia and the United Arab Emirates for the project "ZapSibNeftehim", the materials of the company inform.
Saudi Arabia's sovereign fund and the Mubadala fund from the United Arab Emirates (UAE) have allocated 3.65 billion roubles (in dollar terms). Fund of Ronald Nash and Dmitry Kryukov Verno Capital originating from the "Renaissance Capital" has allocated 729 million roubles. Another 7.29 billion roubles were provided by the Russian Direct Investment Fund. The funds are allocated for five years.
