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Sibur Confirms Project Delays; MBO ‘No Longer on the Agenda’

12:27 PM MDT | June 26, 2009 | Ian Young

Sibur, Russia’s biggest producer of petrochemicals, has delayed or shelved all of its expansion projects due to the economic and financial crisis, Sibur president Dmitry Konov says. “We have not cancelled any of our largest projects, but we have adjusted the timing and start-up dates,” Konov says. “We have moved our spending burden from 2009-10, to 2011-12.” Konov: No major projects have been cancelled. Completion of Sibur’s previously announced propane dehydrogenation and 500,000-m.t./year polypropylene (PP) plant at Tobolsk...

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