In 2020, Sinopec and CIBOURE, Russia's largest petrochemical company, corperate to work on a project at nitrile rubber. The two sides will build a new 50,000 ton per year nitrile rubber plant in China, as well as found new plant in Russia with an annual capacity of no less than 20,000 tons for hydrogenated styrene-butadiene block copolymers. It also marks a new stage in the petrochemical cooperation between China and Russia.
In the end of 2020 year, the Russian petrochemical company CIBOURE will also determine whether the construction of Far Eastern Federal District gas chemical projects in Amur. In the case of the project, Sinopec would have a 40 per cent stake in the project and its products would be sold mainly to the Chinese market.
CIBOURE, the Russian Petrochemical Company, sees China as one of the key markets with high growth potential. CIBOURE now exports a wide range of products to the Chinese market, with polypropylene and polyethylene plastics accounting for 30 per cent of total exports. SIPUR executives said they saw great potential in the Chinese market and were confident that the co-operation would help further strengthen economic ties between China and Russia.
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