Petrochemicals Group Sets up JV at Gas Chemical Complex

SIBUR Holding, Russia’s leading petrochemicals company and one of the most rapidly growing petrochemicals businesses globally, and China Petroleum & Chemical Corporation (Sinopec), China’s leading energy and chemical company, have closed the deal to set up a joint venture (JV) at the Amur Gas Chemical Complex after obtaining all the necessary approvals from the regulators of both countries. SIBUR and Sinopec will hold interest in the JV in the amount of 60% and 40%, respectively. In June 2019, the parties agreed on the main terms and conditions of the potential JV. Following the investment decision, all corporate and regulatory approvals were obtained as required to close the deal. Foll

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