MOSCOW, Jun 29 (PRIME) -- Russian petrochemical holding Sibur and China’s Sinopec have signed a shareholder agreement to create a joint venture for the Amur gas chemical complex project and are working to get regulatory approvals, according to Sibur’s documents seen by PRIME on Monday.
“In June 2020, Sibur and Sinopec signed a shareholder agreement on the Amur gas chemical complex and are working on receiving regulatory permissions,” the document said.
Sibur said in May that Sinopec already received all necessary corporate approvals for the creation of the joint venture with Sibur. Sibur said earlier that Sinopec is expected to have a 40% stake in the joint venture.
Sibur preliminarily estimates investments in the creation of the Amur gas chemical complex at U.S. $10.7 billion.
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