BEIJING (June 11, 2012)—Russia's Sibur will China's Sinopec Corp. have agreed to set up a joint venture nitrile and isoprene rubber plant in Shanghai that will use Sibur technologies.
The agreement—the second between the two synthetic rubber producers this year—is expected to result in a two facilities that will have the capacity to produce 50,000 metric tons each of the SRs, Sibur said. Sibur CEO Dmitry Konov and Sinopec President Wang Tianpu signed a cooperation agreement during the recent state visit of Russian President Vladimir Putin to China.
The companies in April signed another agreement allowing them to form a joint venture NBR factory in Krasnoyarsk, Russia. That partnership will result in an increase of existing NBR capacity of the Krasnoyarsk factory to 56,000 from 41,000 tons.
The feasibility study for the NBR project in Shanghai has been completed and will shortly be filed with local regulators, Sibur said. The IR project study is about to begin.