Home / Knowledge / News / Textiles / SIBUR BoD approves capex budget hike for ZapSibNeftekhim
SIBUR BoD approves capex budget hike for ZapSibNeftekhim
19
Sep '14
SIBUR's Board of Directors has approved increased funding for the ZapSibNeftekhim petrochemical project in 2014, with overall capex budget for 2014 increasing from RUB 53 billion to RUB 74 billion.

Based on completion of the FEED contracts and assessment of the design documentation, SIBUR said it is moving on to the next stage of the ZapSibNeftekhim project.

With the project moving on to the next stage, SIBUR's BoD has approved increased funding for the project in 2014, with overall capex budget for 2014 increasing from RUB 53 billion to RUB 74 billion.

The ZapSibNeftekhim's petrochemical project is designed to operate a steam cracker with a capacity of 1.5 MTPA of ethylene, around 500 KTPA of propylene and 100 KTPA of butane-butylene fraction (BBF).

Alongside, the project will also have units with a total capacity to produce 1.5 MTPA of various grades of polyethylene and a polypropylene unit of 500 KTPA.

SIBUR said the FEED for the cracker, polyethylene and polypropylene units has been completed and now it has signed an agreement to design infrastructure and off-site facilities.

SIBUR will invest around RUB 360 billion or some US$ 9.5 billion in the ZapSibNeftekhim project which includes expenditure already incurred and costs budgeted for commissioning.

The Russian oil and petrochemicals major added that production site infrastructure construction and other works for the project are to be completed within 5-5.5 years.

SIBUR hired Environmental Resources Management (ERM), a leader in HSE advisory services, to estimate ZapSibNeftekhim's environmental footprint.

Comprehensive analysis showed that the prospective operations comply with the applicable Russian laws and environmental requirements.

ZapSibNeftekhim's construction and operations will neither exceed environmental standards nor have a material adverse effect on the environment, SIBUR informed.

The facility will create new jobs, provide more tax and other payments to the budget, and contribute to the social development and quality of life in Tobolsk, it added.

CEO at SIBUR, Dmitry Konov said, “SIBUR has delivered on ambitious projects to expand its gas processing and fractionation capacity and build its first large polymer production capacities, providing the basis for a smooth transition into the next stage of the project.” (AR)

Fibre2fashion News Desk - India


Must ReadView All

EU renews GSP+ scheme for Pakistan 2 years

Apparel/Garments | On 24th Feb 2018

EU renews GSP+ scheme for Pakistan 2 years

Pakistani exporters can enjoy preferential duties on exports to the...

Surat wary of e-way bills

Textiles | On 24th Feb 2018

Surat wary of e-way bills

There is no respite for Surat’s textile manufacturers and retailers....

Retailers choose sides in Alibaba-Tencent battle in China

Apparel/Garments | On 24th Feb 2018

Retailers choose sides in Alibaba-Tencent battle in China

Two big Chinese firms— Alibaba Group Holding Ltd and Tencent Holdings ...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mohammad Hassan
Biax Fiberfilm

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Prathyusha Garimella
Prathyusha Garimella

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

Jay Ramrakhiani
Occasions Elegance Wear

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

February 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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