MOSCOW—Sibur has attracted a number of local and international investors for its ZapSibNeftekhim project—an integrated petrochemical complex in Tobolsk, Russia.
The Russian petrochemical company said on Dec. 4 that ZapSibNeftekhim completed the placement of 15-year bonds worth $1.75 billion on behalf of the ministry of finance of the Russian Federation for this project.
The firm said investors include the Russian direct investment fund as well as a number Middle Eastern sovereign wealth funds.
Total investment in the project amounts to $9.5 billion.
Describing it as its largest investment project, Sibur said the funds would be used to develop industrial infrastructure for a forthcoming facility for production of polyolefins.
Sibur said ZapSibNeftekhim is expected to be the largest modern petrochemicals facility in Russia and will include the construction of a steam cracker with a capacity of 1.5 metric tons per year of ethylene, about 500 kilotons per year of propylene and 100 kilotons per year of butane-butylene fraction per year.
According to Sibur, there will also be units producing various grades of polyethylene and polypropylene with a total capacity of 2 metric tons per year.