SIBUR Holding and Sinopec formed a joint venture.

SIBUR Holding, a petrochemicals company, and Sinopec, a energy and chemicals company, formed a joint venture at Amur Gas Chemical Complex, a basic polymer production facility. Financial terms were not disclosed. “Amur GCC is a milestone in the cooperation between Sinopec and SIBUR, and will also become a model for Sino-Russian energy cooperation to extend to downstream chemical industry. The success of Amur GCC will inject new impetus into advancing the high-quality cooperation between the two countries in the fields of energy, chemical industry, investment, economy and trade and play a positive role in effectively promoting the sound interaction of domestic and international markets as well as the economic development, employment and social well-being of the Far East region,” Zhang Yuzhuo, Sinopec Chairman.