SIBUR super petrochemical project raises $9.1 billion

On December 15, the project jointly constructed by Russian petrochemical giant Sibur and Sinopec has completed financing.
The financing will be used for the construction of a super-large petrochemical polymer enterprise at the Amur Natural Gas Chemical Plant.
The products will be provided to the Chinese market in the future
.

Wester Group and Sinopec have attracted US$9.
1 billion in project financing for the Amur natural gas chemical plant from international consortiums, Chinese banks and Russian banks
.

 The Amur natural gas chemical complex project plans to build a base polymer base with an annual production capacity of 2.
7 million tons, including 2.
3 million tons of polyethylene and 400,000 tons of polypropylene
.
The total investment of the project is estimated to be between US$9 billion and US$10 billion, and construction has already started in September 2020
.
Nearly 29% of the funding for the project will be provided by foreign banks, but the Russian side did not disclose the specific names
.
The rest came from Russian and Chinese financial institutions, with Sinopec as a partner
.

The Amur natural gas chemical complex project is located in the Far East of Russia, close to Heilongjiang, China, and in Pragueveshchensk, the capital of the Amur region of Russia.
The unit uses steam cracking to produce ethylene and propylene and other products, and processes and produces linear low-density polyethylene, high-density polyethylene and high-density polyethylene.
High value-added products such as polyethylene and polypropylene are planned to be completed in 2024 and will become the world's largest polymer plant using light economical materials as raw materials
.

The natural gas feedstock for the Big Mac project comes from nearby Gazprom, which is currently converting natural gas into nitrogen, ethane or propane and by-products for the Chinese market
.

Earlier in December 2020, Russia's Sibur Holding Company and Sinopec Group Corporation established a joint venture based on the Amur natural gas chemical complex, with the two parties holding 60% and 40% of the shares respectively
.

On March 4, 2021, Sinopec Refining and Chemical Engineering Company signed an ethylene plant project construction contract worth about 900 million US dollars (about 5.
851 billion yuan), which will provide the project company with the construction of the Amur natural gas chemical plant.
Engineering Services
.