Sibur begins construction of Zapsibneftekhim in Tobolsk
TOBOLSK. Feb 17 (Interfax) - Sibur has begun the construction of the production complex Zapsibneftekhim (Zapsib-2) in Tobolsk, and Interfax correspondent reported from the ceremony for the start of construction of the facility on Tuesday.
"We see the construction of Zapsibneftekhim taking about four years, this timeframe is physically necessary for us, but we will adjust it," Sibur CEO Dmitry Konov said.
On Tuesday the Denisovka railway station was also opened, the expansion of which Sibur carried out. After the reconstruction, the design capacity of the station for freight turnover rose from 4 million tonnes to 8.2 million tonnes of products a year. Investments in the project amounted to more than 3.8 billion rubles.
The company is adjusting the amount of capex on the Zapsib-2 project due changes in the exchange rates.
Sibur told Interfax that the company is formulating the size of planned spending on Zapsib-2 in 2015 in order to not violate the position of the company's financial policy.
It was also reported that in September of last year that the company decided to carry out the ZapSibNeftechem project, the total cost of which is valued at $9.5 billion, including approximately $700 million that has already been invested in the project. The project will reinforce the city's position as the center of the West Siberian petrochemical cluster and one of the largest industrial hubs in the country.
The ZapSib-2 project calls for building a pyrolysis facility in Tobolsk with capacity of 1.5 million tonnes of ethylene per year using Linde technology, and also about 500,000 tonnes of propylene and 100,000 tonnes of butane-butylene fraction a year, facilities to produce various types of polyethylene with combined capacity of 1.5 million tonnes per year using Ineos technology, and facilities to produce polypropylene with capacity of 500,000 tonnes per year using LyondellBasell technology.
Sibur's projects in the Tyumen region are implemented in the framework of an investment agreement between companies, the government of the Tyumen region and the administration of Tobolsk that was signed earlier on the comprehensive development of the Tobolsk industrial site.
The Tobolsk industrial site is Sibur's largest production complex. It includes gasification capacities of Tobolsk-Neftekhim, the modern production of polypropylene of Tobolsk-Polymer, the important railway junction, the Denisovka station, through which come the main flows of raw materials and ready products of the site.
