Home / Knowledge / News / Textiles / Sibur, Gazprom Neft & Titan Group sign JV on PP Plant
Sibur, Gazprom Neft & Titan Group sign JV on PP Plant
26
May '14
Gazprom Neft, SIBUR and Titan Group signed an agreement to establish a joint venture based on Omsk Polypropylene Plant (Poliom).
 
As part of the deal, Sibgazpolimer, a joint venture of SIBUR and Gazprom Neft (each having a 50% stake), acquired a 50% stake in Poliom from Titan Group.
 
Under the agreement, Gazprom Neft is to supply Poliom with raw materials (propane-propylene fraction from Omsk Refinery), with SIBUR to sell Poliom's products through its distribution network.
 
This partnership will help enhance the efficiency across the entire production chain, from feedstock delivery to sales.
 
Poliom's Board of Directors is to consist of an equal number of representatives of Titan Group and Sibgazpolimer, with the plant's operations handled by CEO. Currently, this position is held by Oleg Moloshtanov.
 
“The acquisition of Poliom's stake by Gazprom Neft will provide the plant with smooth feedstock supplies to manufacture high-quality petrochemicals, improve our refining efficiency and add value across all production stages,” said Anatoly Cherner, deputy CEO for logistics, processing and sales at Gazprom Neft.
 
“We are convinced that SIBUR's competencies in polypropylene production and solid understanding of the Russian polymer market will contribute to enhancing Poliom's operational excellence and performance,” Dmitry Konov, SIBUR’s CEO, said.
 
“Cutting-edge production facilities with a high level of environmental protection, advanced technologies, and highly qualified personnel enabled Omsk Polypropylene Plant to become a market leader within the very first year of operations. I believe that the majors' engagement in the project will help increase investor appeal of the Omsk Region and boost SME development, marking the growing point of various industrial sectors in Russia,” said Mikhail Sutyaginsky, Chairman of the Board of Directors at Titan Group.
 

SIBUR

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Stefano Gallucci (left), CEO, Santex Rimar Group, and Tamer Hasbay, President, Has Group; Courtesy: Santex Rimar

Textiles | On 24th Jan 2017

Santex Rimar to market all Has products globally

Italy based Santex Rimar Group has signed an agreement with Turkey...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Mark Paterson
Technical Absorbents Ltd

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Lynda Kelly
Suominen Corporation

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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
January 2017

January 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