Gazpromneft, Sibur and Titan create joint venture

Gazpromneft, Sibur and Titan have established a joint venture on the basis of the Omsk plant Poliom, the Gazpromneft’s press center reported.
Under the deal, Sibgazpolimer, the joint venture of Sibur and Gazpromneft, created on parity basis , purchased 50 % of Poliom’s share capital from the Group of Companies Titan.
Under the agreement, Gazpromneft will supply raw materials to Poliom: propane-propylene fraction from the Omsk refinery and Sibur will provide sales of products using its distribution network.
Cooperation of Gazpromneft, Sibur and the Group of Companies Titan on the basis of the Omsk polypropylene plant will increase the efficiency of processes throughout the production chain - from supply of raw material to sale of finished products on the market.