Ben Aris, bne IntelliNews journalist talked to Dmitriy Konov, Sibur CEO about economic aspects of the ZapSibneftehim project.
Russia has been called a petroecongomy and over-reliant on the simple business of pulling oil and gas out of the ground and sending it down a pipeline to the international markets. Sibur is Russia’s biggest petrochemical company and is going up the value chain. The company’s $9bn ZapSib plant based in the former Siberian capital of Tobolsk will go online in April and will treble the company’s production as well as doubling its revenues.
The company is a leading example of Russia’s ongoing development as it plays to its strengths and the leading businessmen are starting to invest for the long-term and make more of what it has. The ZapSib plant is the last big investment project for the meantime as the company reaches maturity.
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