Marubeni, Mitsubishi to participate in development of chemical plant in Volgograd
Two Japanese companies Marubeni Corporation and Mitsubishi will take part in the development of a chemical plant in the Russian city of Volgograd. The relevant agreement was signed on the margins of the G20 summit in Osaka on Saturday, a TASS correspondent reported from the ceremony.
Under the agreement the companies are to buy products of the methanol producing plant and also to be involved in the design documentation of the plant
The Russian-Japanese Investment Fund (established by the Russian Direct Investment Fund (RDIF), Japan Bank for International Cooperation and JBIC IG Partners) will join the project of RDIF and the AEON infrastructure corporation for the construction of a methanol production plant and the organization of a chemical cluster in Volgograd.
The parties are planning to invest more than 50 bln rubles ($790 mln) in the construction of the cluster. The construction will start in early 2020 and will be completed in late 2022.