Russian petrochemical company Sibur and its joint venture partner Belgium-based SolVin completed a €750 mln project financing..
As per reports and information from our sources,Russian petrochemical company Sibur and its joint venture partner Belgium-based SolVin,have completed a €750 mln project financing agreement to build one of Europe's largest integrated polyvinyl chloride plants in Russia.Production capacity will be 235,000 tpa of caustic soda and 330,000 tpa of PVC; with the flexibility to further increase capacity up to 500,000 tpa by 2016.The agreement consists of a Ruble equivalent of €50 mln 11-year loan from Sberbank of Russia, a €150 mln 11 year loan from EBRD and a €450 mln 12 year loan split between BNP Paribas, ING Bank NV and HSBC and guaranteed by COFACE and ONDD, the Export Credit Agencies of France and Belgium.
Russia-based Sibur is considering building a new giant petrochemical complex in Tobolsk, which is expected to be the largest in Russia and one of the largest in the world, according to Dmitry Konov, CEO of the company.