Chinese Sinopec Limited to Buy Shares of Russian Petchem Company
CHEMMONITOR.COM – The Chinese oil and gas company with the head office in Beijing Sinopec Limited and the Russia-based petrochemical company Sibur inked an agreement in Beijing. The Chinese producer is going to purchase 25%+1 share of Krasnoyarsk Synthetic Rubber Plant.
Both parties are waiting for the approval of the Chinese and Russian authorities.
Previously, the companies signed a cooperation agreement to set up a JV for nitrile butadiene rubber (NBR) manufacturing based at Krasnoyarsk Synthetic Rubber Plant.