Rus News Journal

SIBUR has approved the agreement on delivery etilena for Rusvinila on 40 mlrd roubles

Shareholders SIBUR Holding have approved the agreement on deliveries etilena for Open Company Rusvinil for a total sum 40 mlrd rbl. Under the holding communique, shareholders have accepted the corresponding decision at extraordinary meeting on August, 3rd, 2011. Shareholders also have approved the direct contract under the agreement on deliveries etilena between Rusvinilom SIBURom and BNP Paribas S. A., operating as the agent of creditors and obespechitelnogo the agent. One of the Nizhniy Novgorod structures of holding - " will be the supplier etilena; SIBUR - Kstovo . Delivery term - 49 years from the date of signing of the agreement with prolongation possibility. Within the first 12 months from the date of start Rusvinila in commercial operation delivery etilena will be made under the following scheme: within first three months - at the rate of 100 thousand t in the year, next three months - 110 thousand t in the year, next three months - 130 thousand t in the year, next three months - 140 thousand t in a year. Then etilen it will be delivered at the rate of 156 thousand t in a year monthly. Within 18 months after enterprise start in commercial operation possibility of increase in deliveries etilena from calculation to 226 thousand t in a year is provided. Open Company Rusvinil - the joint project on parity basis SIBURa and SolVin (joint venture Solvay and BASF) on erection in the Nizhniy Novgorod region manufactures of PVC by capacity of 330 thousand t in a year. Start is planned for 2013. Investments into the project are provided at a rate of 1,25 mlrd euro.