Sibur and Sinopec conclude agreement on creation of joint venture for rubber substance production in China

Last week, during the state visit of the President of the Russian Federation to China, one of the largest world energy and chemical companies China Petroleum and Chemical Corporation (Sinopec Corp.) and leading gas-processing and petrochemical company of Russia, Sibur concluded an agreement on the establishing of a joint venture for the production of nitrile butadiene rubber (NBR) with a capacity of 50 thousand tons per year in Shanghai Chemical park, 50 km from Shanghai. Shares of Sibur and Sinopec in the joint venture will make up 74.9% and 25.1 %, respectively. The agreement was signed in the presence of the Russian President, Vladimir Putin and the President of China, Xi Jinping.

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