Gazprom says to build gas chemical plant in Astrakhan Region

MOSCOW, Nov 11 (PRIME) -- Russian gas giant Gazprom has signed an agreement with polymer producer Kaspiyskaya Innovatsionnaya Kompaniya (Caspian Innovative Company) and the Astrakhan Region on participation in construction of a gas chemical facility, Gazprom said in a statement on Wednesday.

The facility’s projected capacity is 300,000 tonnes of polyethylene per year. The plant, to be launched, in 2024, will export about 80% of its products.

Under the agreement, Caspian Innovative Company will build the facility and a scientific research center for development of plastics and polymer composite materials, while Gazprom’s Astrakhan gas processing plant will supply raw materials, the ethane fraction.

End %%md/jst%%