PAO SIBUR Holding, an integrated gas processing and petrochemicals company and a leader in the Russian petrochemicals industry, today publishes limited operational update for the three months ended 31 March 2016.
In the South Korean port of Ulsan, the first delivery of heavylift and oversized equipment has been made for ethylene cracker unit to be installed at the ZapSibNeftekhim polyolefin production facility, which is currently under construction.
At the exhibition SIBUR presented a range of polypropylene (PP) homopolymer incorporated products already supplied to the Chinese market, such as grades used in the production of BOPP-films and non-woven materials, and for injection moulding.
PAO SIBUR Holding, an integrated gas processing and petrochemicals company, today published its operational and financial results for the full year 2015 in accordance with International Financial Reporting Standards (IFRS).
SIBUR has completed the process of organisational and staff changes enhancing the Company’s management structure, including the transfer of a number of management functions to the regional level. The new management system is designed to facilitate SIBUR’s development strategy implementation in the most balanced way.
SIBUR has completed a comprehensive project intended to build up the associated petroleum gas (APG) processing capacity at the Vyngapurovsky Gas Processing Plant. The opening ceremony was attended by Dmitry Kobylkin, Governor of the Yamal-Nenets Autonomous Area, and Dmitry Konov, Chairman of SIBUR's Management Board.
On 22 March 2016, SIBUR Holding successfully closed the subscription book for its Series 10 bonds in the amount of RUB 10 bn. With a coupon period of 182 days, the bonds have a tenor of 10 years and a put option in 5 years. The par value of the bonds is RUB 1,000 each. The offering price is 100% of the par value.
SIBUR resolved to integrate Tobolsk businesses into a standalone business unit, Tobolsk Industrial Site, poised to operate as the Company's Division. As part of the integration process, Tobolsk-Neftekhim was renamed to SIBUR Tobolsk. The integration of Tobolsk-Polymer, Tobolsk HPP and SIBUR Tobolsk is slated for completion in 2016.
The shareholders of PJSC SIBUR Holding elected members to the Board of Directors at the extraordinary general meeting to include a representative of Chinese Sinopec Group, the new shareholder of SIBUR.
The successful completion of the transaction will deepen the cooperation between the two companies and create value for both. The investment will also lead to better sharing of joint expertise and resources, which will strengthen not only the market leading positions of both companies, but also the strategic cooperation between China and Russia.
A consortium of investors, comprising the Russian Direct Investment Fund (RDIF) and leading Middle Eastern sovereign wealth funds have invested in SIBUR’s ZapSibNeftekhim project – an integrated petrochemical complex in Tobolsk, Tyumen Region (Russia)