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On March 3, Sinopec Refining and Chemical Engineering Group, the Fourth Construction Company, the Tenth Construction Company and the Russian Company and Russia's Amur Natural Gas Chemical Plant (AGCC) in their respective headquarters in Beijing, Tianjin, Qingdao and Moscow, through video conferences, signed the Russian Amur ethylene plant construction project general contract
.
According to the contract, Refinery Engineering Group and its member units will provide engineering services for the ethylene unit of the Amur Natural Gas Chemical Plant in Russia, with a contract value of approximately US$942 million
.
After the project is completed, it will become the world's largest polymer plant using light hydrocarbons as raw materials
.
This is the first time that the Refinery Engineering Group has undertaken a general contracting project for construction in Russia, and it is also the largest overseas contracted monomer construction project of the Refinery and Chemical Engineering Group
.
The project is located in Pragueveshchensk, the capital of the Russian Far East Amur Region (opposite the Heihe River in Heilongjiang).
It will use the mixed light hydrocarbons produced by the upstream Amur natural gas processing plant to produce ethylene, propylene and other products by steam cracking, and further process to produce linear low-density polymer.
Ethylene, high density polyethylene, polypropylene and other high value-added products
.
The AGCC project is a demonstration project of production capacity cooperation between China and Russia.
Sinopec is the investor of Russia's Amur Natural Gas Chemical Plant (AGCC).
On June 5, 2019, at the St.
Petersburg International Economic Forum held in Russia Witnessed by the head of state, Sinopec Group and SIBUR Group signed a cooperation agreement on the construction of Russia's Amur natural gas chemical plant
.
Siebur raises funds for AGCC
Siebur raises funds for AGCCRussia's SIBUR (SIBUR) is raising funds from Russia's State Wealth Fund for its Amur Gas-to-Chemical Plant (AGCC), Reuters reported
.
SIBUR is building a gas chemical complex (AGCC) in the Russian Far East with an investment of about $10 billion to $11 billion
.
For the first half of the year, Siebull reported a loss of $61 million and an 11.
6% drop in revenue
.
The Amur AGCC is scheduled for completion in 2024
.
Sinopec holds a 40% stake in the chemical plant
.
Previously, Sibull received $1.
75 billion from Russia's state wealth fund for building a petrochemical plant in western Siberia
.
Sibur's board of directors currently includes Kirill Shamalov, former son-in-law of Russian President Vladimir Putin
.
The news agency also reported that Sibur had shelved plans to build a joint petrochemical complex in Saudi Arabia with TOTAL and Aramco
.
In November, SIBUR sold its synthetic rubber production facility and other TOGLIATTI assets to TATNEFT to focus on growing its core business
.
