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Sinopec Corp. Plans to Acquire an Interest in SIBUR’s Krasnoyarsk Based Plant 

On October 31, Sinopec International (Hong Kong) Co. Ltd, the wholly owned subsidiary of Sinopec Corp., and SIBUR, a Russian gas processing and petrochemicals company, signed an agreement that will see Sinopec Corp. purchase 25% + 1 share of Krasnoyarsk Synthetic Rubbers Plant JSC (KSRP). The agreement was signed in presence of Sinopec Corp. Vice Chairman and President  Wang Tianpu and SIBUR  CEO Dmitry Konov.

The deal is to be approved by Chinese and Russian regulators. Earlier the parties signed an agreement on cooperation to create a joint venture which will produce nitrile rubbers (NBR) on the base of KSRP.

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