Moscow, 31 October 2018. SIBUR, Russia’s largest integrated petrochemicals company, and SG-trans, one of the country's major railway operators, have set up Petrochemicals Transportation Company (NKhTK), a liquefied petroleum gas (LPG) transportation joint venture.
As part of the deal totalling RUB 9,4 bn, SIBUR sold its LPG tank car fleet to NKhTK via a leasing company. The JV was set up with a parity ownership split between SIBUR and SG-trans.
While reserving part of NKhTK’s transportation capacity for SIBUR’s own needs, the deal also provides for the JV to offer freight transportation services to third parties.
“Joint ownership of Petrochemicals Transportation Company will serve as a springboard to our long-term partnership with SIBUR, drawing on the joint operational control experience derived from this project. It comes as a natural extension to the companies' existing relationship, where SG-trans provides rolling stock for SIBUR's LPG transportation, and does not imply any rail car fleet redistribution in the market,” said Sergey Kaletin, President of SG-trans.
“The new partnership is in line with our strategic focus on the petrochemical business development and production of synthetic materials enjoying demand in the FMCG, automotive, construction, energy, and other industries,” said Oleg Makarov, Executive Director at SIBUR.