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People & Business :: M&A

Sibur, Gazprom Neft, and Titan Group form PP joint venture in Russia

8:48 AM MDT | May 23, 2014 | Natasha Alperowicz

Gazprom Neft, Sibur, and the Titan Group have signed an agreement to establish a joint venture based on the existing Omsk, Russia, polypropylene (PP) plant owned by Poliom. As part of the deal, Sibgazpolimer, an equally owned jv between Sibur and Gazprom Neft, has acquired a 50% stake in Poliom from the Titan Group. Gazprom Neft will supply Poliom with propane-propylene feedstock from the Omsk refinery, while Sibur will sell Poliom's products through its distribution network. The PP plant, commissioned last year, is designed to produce 210,000 m.t./year using the...

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