Russia’s Rosneft and China’s Sinopec ink deal for petchem project
The company reported in a press release that in the event of successful outcomes as stipulated by the framework agreement, it is supposed to create a joint venture between the two companies in 2017.
The project is slated to have a production capacity of 5 billion cubic meters of gas and 3 million tons/year of polymers and petrochemical products. Rosneft also reported that the project will meet the growing PP and PE demand both in Russia and in China. The polymer and petrochemical output from the project will be primarily directed to the Russian and Chinese markets.
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