Tobolsk, 14 July, 2010. The state corporation «Bank for Development and Foreign Economic Affairs (Vnesheconombank)» and a subsidiary of the SIBUR Holding,
On behalf of Vnesheconombank, the agreements were signed by its Chairman, Vladimir Dmitriev, while, on behalf of
Funds from this credit provision are to be directed towards the implementation of a project for constructing a new modern polypropylene production complex in Tobolsk, which will have an installed capacity of 500 thousand tonnes per year.
According to the signed documents, credited funds in the amount of USD 1,220 million shall be granted for a period of 13.5 years under a guarantee provided by export insurance agencies of European countries by which SIBUR will purchase equipment for the new complex. The remaining funds from the loan, in the amount of USD 221 million, shall be provided in the form of a line of credit for a period of nine years.
These agreements were signed in the context of developing the Memorandum of Understanding that was signed in 2009 during the official visit of President of the Russian Federation Dmitry Medvedev to Italy.
At the present time, the construction of general plant facilities is underway on the territory of
The construction of this production complex is provided for in the state’s Strategy for the development of the chemical and petrochemical industry in Russia for the period until 2015.
This project is consistent with Vnesheconombank’s main directions of investment activity and is being directed towards promoting the highly efficient use of raw hydrocarbon materials and the export of products with high added value. The implementation of this project will significantly increase the volume of associated petroleum gas (APG) that is processed, which will have a positive impact on the ecological situation in the region.
International Media Relations