Home / Knowledge / News / Textiles / SIBUR BoD approves capex budget hike for ZapSibNeftekhim
SIBUR BoD approves capex budget hike for ZapSibNeftekhim
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

Courtesy: Trinity Kubassek from Pexels

Textiles | On 19th Aug 2018

Australian wool production to fall 5.7% in 2018-19

Shorn wool production in Australia is likely to fall by 5.7 per cent...

Courtesy: Next Level Apparel

Apparel/Garments | On 19th Aug 2018

Blue Point Capital recapitalises Next Level Apparel

Blue Point Capital Partners has recapitalised Next Level Apparel, a...

Retailers approaching 100% inventory accuracy: Study

Apparel/Garments | On 19th Aug 2018

Retailers approaching 100% inventory accuracy: Study

With computer vision use cases maturing, Artificial Intelligence (AI) ...

Interviews View All

Veronique Lee

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Kerem Durdag
Biovation II LLC

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

August 2018

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

news category

Related Categories:

Advanced Search