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Sibur Buys Stake in Moscow PP Producer

7:52 AM MDT | September 8, 2010 | Ian Young

Sibur says it has acquired a 50% stake in polypropylene (PP) manufacturer NPP Neftekhimya from Moscow Oil Refinery (MOR). NPP Neftekhimya will be operated as a 50-50 joint venture between Sibur and MOR. The PP plant is located at MOR's Moscow refinery site. NPP Neftekhimya has capacity for 100,000 m.t./year of PP. Sibur says that it and MOR will consider an expansion of the plant's capacity to 150,000 m.t./year. Sibur is also building a wholly owned propane dehydrogenation and PP complex at Tobolsk, Russia for completion in the fourth quarter of 2012. "Due...

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