Home / Knowledge / News / Textiles / Rosneft & Mitsui & Co to develop 'FEPCO Project'
Rosneft & Mitsui & Co to develop 'FEPCO Project'
30
Apr '13
On 29 April 2013, Rosneft and Mitsui signed a Memorandum of Understanding to jointly develop FEPCO project - one of the largest petrochemical projects globally.

The MoU was signed by Rosneft President and Chairman of the Management Board Igor Sechin and by Representative Director, Senior Executive Managing Officer, and Member of the Board of Directors of Mitsui & Co., Ltd Shintaro Ambe in the presence of the Russian President Vladimir Putin and Prime Minister of Japan Shinzo Abe.

The Far East Petrochemical Company (“FEPCO”), a subsidiary of Rosneft, is developing the project. Processing capacity of the petrochemical complex as part of the project is planned at 3.4 million tonnes of hydrocarbon feedstock per year (predominantly naphtha). The capacity of ethylene and propylene production unit is planned at 2 million tonnes per year. The complex is expected to be launched in 2017.

As part of the Memorandum, the parties plan cooperation in engineering design in accordance with international best practices. Following the results of this cooperation final investment decision on FEPCO construction will be made.

Commenting on the signing, Igor Sechin said: “We are glad to join efforts with one of the leading Japanese companies to develop the largest petrochemical complex in the Far East.

Implementation of the project in cooperation with Mitsui will enable us to optimize the petrochemical complex and use the best global practices of constructing plants of similar scale. Successful implementation of the project will facilitate development of technology intensive production and establishment of a production cluster in the Far East”.

Rosneft

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search