RDIF, international funds finance Sibur’s petchem project
by ChemOrbis Editorial Team - content@chemorbis.com
According to a press release on the company’s website, the Russian Direct Investment Fund (RDIF) along with several Middle Eastern sovereign wealth funds have invested in Russia’s Sibur’s ZapSibNeftekhim project in Tobolsk, Tyumen Region.
The total investment value of the project reportedly amounts to $9.5 billion. In addition to funds raised from Russia’s National Welfare Fund (NWF), up to $3.3 billion is being provided by commercial banks, RDIF and its co-investors. Meanwhile, Sibur is also continuing to fund the facility’s construction at its own expense.
The ZapSibNeftekhim project is Sibur’s largest investment project and is designed to be an integrated petrochemical complex. It will be the largest modern petrochemical facility in Russia once completed. The ZapSibNeftekhim project includes the construction of a steam cracker with a capacity of 1.5 million tons/year of ethylene, around 500,000 tons/year of propylene and a 100,000 tons/year butane-butylene fraction (BBF) unit, along with units producing PE and PP with a total capacity of 2 million tons/year.
The total investment value of the project reportedly amounts to $9.5 billion. In addition to funds raised from Russia’s National Welfare Fund (NWF), up to $3.3 billion is being provided by commercial banks, RDIF and its co-investors. Meanwhile, Sibur is also continuing to fund the facility’s construction at its own expense.
The ZapSibNeftekhim project is Sibur’s largest investment project and is designed to be an integrated petrochemical complex. It will be the largest modern petrochemical facility in Russia once completed. The ZapSibNeftekhim project includes the construction of a steam cracker with a capacity of 1.5 million tons/year of ethylene, around 500,000 tons/year of propylene and a 100,000 tons/year butane-butylene fraction (BBF) unit, along with units producing PE and PP with a total capacity of 2 million tons/year.
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