CEO says Sibur to launch Amur Gas Chemical Complex in 2024

SKOLKOVO, Moscow Region, Oct 14 (PRIME) -- Russian petrochemical company Sibur plans to launch Amur Gas Chemical Complex by the end of 2024, CEO Dmitry Konov told reporters on Wednesday.

"Construction of Amur Gas Chemical Complex continues on schedule that allows us to launch the plant by stages that are planned, with (the deadline) slated for the end of 2024," Konov said.

The official added that the company is in negotiations with the majority of large Russian and foreign banks, including the Chinese ones, on financing of the project.

"There is a principle that we invest our own money in the so-called equity and banks provide financing. In fact, borrowing is not planned to be the key (source of financing)," Konov said.

The Amur Gas Chemical Complex will have production capacity of 2.7 million tonnes of polymers annually, including 2.3 million tonnes of polyethylene and 400,000 tonnes of polypropylene.

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