MOSCOW, April 8. /TASS/. Sibur and China’s oil and gas company Sinopec currently see the necessity of revising the strategy for implementation of the Amur Gas Chemical Complex (GCC) construction project and they will take a decision shortly, through the construction works are underway, the press service of the Russian petrochemical company told reporters on Friday.
"Sibur and Sinopec see the necessity of revising the strategy for implementation of the Amur GCC project, with corresponding decisions planned to be taken shortly," the company said.
In general, the project was ready by 37.8% as of the end of March, and on certain units - by 43%. Currently construction and other works are underway, the press service added.
It was reported in late March that Sibur and Sinopec continued joint implementation of the Amur Gas Chemical Complex construction project.
Earlier, Reuters reported citing sources that Sinopec suspended talks on large investments in Russia’s petrochemical industry and Russian gas sales in China. Sinopec Vice-President said later that the Chinese company continued working in Russia, not posting a decline in the cost of assets.
The Amur GCC is the joint venture of Sibur (60%) and Sinopec (40%) for polyethylene and polypropylene construction. Production capacity of the plant is planned at up to 2.7 mln tonnes of polymers per year. The facility was expected to be launched in mid-2024.