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Sibur expects Chinese banks to participate in financing of Amur complex construction

The completion of construction and commissioning is scheduled for 2024

ST. PETERSBURG, June 9. /TASS/. Sibur expects Chinese banks to participate in the financing of the Amur Gas Chemical Complex (GCC) construction, Chief Executive Officer of Russia’s petrochemical company Mikhail Karisalov told TASS on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

"An important part of financing is connected with Sinopec entrance. Consequently, we expect Chinese banks to join the total pool of those providing financing as well," he said.

Sibur’s target on investment in the project is below $10 bln, CEO added.

It is planned that Amur GCC will have a capacity of 2.7 mtpa, including 2.3 mtpa of polyethylene and 400 ktpa of polypropylene, and will be producing a wide range of grades.

The completion of construction and commissioning is scheduled for 2024.

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