SIBUR to increase petrochemical production 6% in 2011
MOSCOW. Dec 20 (Interfax) - SIBUR will increase its petrochemical production this year by 6% with output at 14.3 million tonnes, the company's general director, Dmitry Konov, said at a press conference on Tuesday.
The company's sales revenue, excluding that made from fertilizer and tyre production, will increase by 40% to 255 billion rubles. Furthermore, SIBUR's net debt to EBITDA ratio came to 0.7 at the end of the third quarter.
Furthermore, SIBUR plans to increase processing of associated oil-gas this year by 3.6% to 18.1 billion cubic meters, production of dry stripped gas - 3.6% to 15.9 bcm, fertilizer output - 3% to 3 million tonnes, and tyre production - 54% to 13.4 million units.
SIBUR's investment (excluding costs for acquisitions and injections in companies' charter capital) will come to 58.6 billion rubles in 2011, up 35% from 2010.
Konov said that the sale of the company's noncore assets, SIBUR-Mineral Fertilizers and SIBUR-Russian Tyres, should be finished at the end of 2011 or the end of January 2012.
He said that SIBUR has decided to sell Perm Mineral Fertilizers and fertilizer production assets in Siberia (Kemerovo Azot and Angar Nitrogenous Fertilizer Plant) to different buyers. "The amount for both [separate] offers has turned out to be better," Konov said.
Konov said that tyre production assets will be divided into several parts and sold to various buyers.