MOSCOW, March 13. /TASS/. Sibur is going to scale investments up in 2024 to 346 bln rubles ($3.8 bln) against 225 bln rubles ($2.5 bln) a year earlier, the Russian petrochemical company told reporters.
About 75% of supplies from this volume were for the market of Russia and CIS – 5.9 mln metric tons
Sibur continued implementation of its investment projects in 2023 and the total budget of the projects portfolio at the execute stage is over 1.7 trillion rubles ($18.6 bln). The company kept petrochemical and gas chemical product output flat in annual terms in 2023, Sibur CEO Mikhail Karisalov said.
About 75% of supplies from this volume were for the market of Russia and CIS – 5.9 mln metric tons. Shipments to Asia-Pacific and Middle East countries amounted to 1.8 mln metric tons and 0.3 mln metric tons were shipped to other countries. About 30% of company’s exports were shipped to China, totaling about 8% of product sales.
“Our capacity utilization overall is at the level of 98.7-99%. Dynamics varies depending on stages. It is much better in the said gas processing: huge supplies of associated petroleum gas and gas fractionation capacity is maximized,” Karisalov said. Plastics, organic synthesis and small-capacity chemicals production facilities are almost 100% utilized.
Source: Tass