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

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Kerem Durdag
Biovation II LLC

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search