Russia’s Sibur may raise $2 bln for ZapSibNeftekhim from state fund

Prime News, 18.06.2015

ST. PETERSBURG, Jun 19 (PRIME) -- Russian petrochemical holding Sibur can raise U.S. $1.75 billion financing on construction of the ZapSibNeftekhim petrochemical facility from the National Wealth Fund, the company said in a statement late Thursday.

“The total amount of investments in the project is $9.5 billion, from which up to $1.75 billion may be raised from the National Wealth Fund as a borrowing. Apart from that, international co-investors, the Russian Direct Investment Fund (RDIF) and commercial banks will provide up to $3.3 billion,” Sibur said.

Earlier on Thursday, CEO of the RDIF Kirill Dmitriev said that the fund’s supervisory board approved co-investing in the project with the National Wealth Fund and “the leading Arabian partners.”

ZapSibNeftekhim located in the Tyumen Region in West Siberia will produce over 4 million tonnes of petrochemicals a year.