RUSSIA: Sibur, Gazprom Neft & Titan create JV based on Omsk polypropylene plant

The Poliom plant currently has 210,000 t/y of polypropylene capacity based on the Spheripol process developed by LyondellBasell.

Under the agreement, Sibgazpolimer, a 50-50 joint venture of Sibur and Gazprom Neft, has acquired a 50 % interest in Poliom from Titan.

Additionally, Gazprom Neft will supply propane-propylene fraction from its Omsk refinery as feedstock for the Poliom plant, while Sibur will sell the plant's production through its distribution network.

The Poliom board of directors will consist of an equal number of representatives from Titan and Sibgazpolimer, with the plant's operations to be handled by the chief executive, a position now held by Oleg Moloshtanov.

Source: Weekly "PetroChemical News", Durham, NC, USA; 2 June 2014
(Syed Rashid Ali, Karachi, Pakistan)