Featuring a propane-propylene fraction processing unit of 250,000t, Poliom will produce 210,000t of polypropylene of approximately 100 grades each year.
Under the terms of the agreement, Sibgazpolimer, a 50/50 JV of SIBUR and Gazprom Neft, bought 50% stake in Poliom from Titan.
SIBUR will sell Poliom’s products through its distribution network where as Gazprom Neft will supply raw materials for propane-propylene fraction from its Omsk Refinery in Russia to Poliom, as part of the deal.
Gazprom Neft logistics, processing and sales deputy CEO Anatoly Cherner said, "The acquisition of Poliom’s stake by Gazprom Neft will provide the plant with smooth feedstock supplies to manufacture high-quality petrochemicals, improve our refining efficiency and add value across all production stages."
The partnership will boost efficiency from feedstock delivery to sales, covering the entire supply chain.
SIBUR CEO Dmitry Konov said: "We are convinced that SIBUR’s competencies in polypropylene production and solid understanding of the Russian polymer market will contribute to enhancing Poliom’s operational excellence and performance."
Titan chairman of the board of directors Mikhail Sutyaginsky said: "Cutting-edge production facilities with a high level of environmental protection, advanced technologies and highly qualified personnel enabled Omsk Polypropylene plant to become a market leader within the very first year of operations."
