Mumbai, India, 7 August 2012. SIBUR Petrochemical India, a subsidiary of SIBUR, has started operations in Mumbai.
SIBUR Petrochemical India extends SIBUR’s geographic reach into India and South Asia. The subsidiary company will initially conduct detailed research of the petrochemical products market and support business development in a number of ways, including government relations.
The primary focus of SIBUR Petrochemical India is the construction of a butyl rubber facility in Jamnagar. The plant, which will operate at a capacity of 100,000 tonnes per year, is being built as a joint venture with Reliance Industries, a major Indian private sector company. The new subsidiary will work alongside Indian partners, as well as provide support to SIBUR employees coming to India to carry out installation and start-up work at the new plant.
Evgeny Griva has been appointed CEO of SIBUR Petrochemical India. Before taking his previous post of Advisor to Managing Director for Planning, Logistics and Sales Support, Mr Griva was Advisor to Managing Director of the Synthetic Rubbers Business Unit of SIBUR.
In February 2012, Reliance Industries, India’s largest private firm, and SIBUR, the leading petrochemical company in Russia, announced an agreement to establish a joint venture in the city of Jamnagar (India) to produce butyl rubber. The start-up capacity of Reliance Sibur Elastomers Private Limited will be 100,000 tonnes of butyl rubber per year. Today, India is the fastest growing market for synthetic rubber globally. The country imports up to 75,000 tonnes synthetic rubber per year. SIBUR will own 25.1% of the JV, with Reliance Industries 74.9%. Along with the agreement to establish the joint venture, the parties signed a licence agreement facilitating use of SIBUR’s proprietary butyl rubber production technology at the new plant. This is the first joint project where SIBUR is involved as technology licenser.
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