Chinese Sinopec, Russian Sibur set up JV to produce synthetic rubbers

May 21, 2014

During Russian President Vladimir Putin’s state visit to China on May 20, Sibur signed a contract with China Petroleum and Chemical Corporation (or “Sinopec”) to establish a joint venture for the construction of a 50 ktpa butadiene nitrile rubber (or “NBR”) plant at the Shanghai Chemical Industry Park, 50km south of Shanghai. Sinopec’s share in the joint venture will be 74.9% and Sibur’s will be 25.1%. Chinese President Xi Jinping and President Vladimir Putin were both present at the signing ceremony.

The parties also signed a technology license agreement for the use of Sibur's NBR production technology at the new facility. Sibur’s specialists will take part in establishing the new facility’s production and commercial operations.

Source: Sibur Press Office, 2014