Russia's SIBUR holding talks to establish processing facilities in Azerbaijan; no agreements signed yet

VLADIVOSTOK. Sept 5 (Interfax) - Russia's SIBUR petrochemical holding is in talks with Azerbaijan on constructing processing facilities in the country, tough the parties have not signed any documents to date, SIBUR CEO Mikhail Karisalov said, confirming what Deputy Russian Prime Minister Alexander Novak had said earlier.

Karisalov said that demand for synthetic materials is growing everywhere, while interest from former CIS countries in cooperating with SIBUR is owing to the company's expertise, among other matters.

"This is recognition of the first hand expertise of Russian industrial companies, Russian science, Russian engineering and design businesses in the development of processing industries," he said.