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September 6, 2001

Course taken to produce polymers

"Nizhnekamskneftekhim" Inc never produced any polymers in its 35 years history. In the near years, that "error" will be rectified

In the country and even in all Europe, being the biggest producer of synthetic rubber and a wide range of monomer-products requiring further processing, "Nizhnekamskneftekhim" Inc could not ever launch production of polymers such as polyethylene, polystyrene and polypropylene which are extremely required in Russia.
A new team of the Company's managers with the general director Vladimir Boussyghin at the head decided to radically change the situation: really, having a powerful feedstock potential like large-capacity plants producing ethylene, styrene, propylene and other monomers, it could have been unpardonable not to make use of the same and not to launch polymer production in Nizhnekamsk, the price for which is far higher than for monomer-products.
We have already informed of signing a Contract between NKNK and "FINA Technology" Inc (USA) to build a HIPS Plant 120 000 TPA in Nizhnekamsk. Besides the already signed Contract, task teams are preparing signing an Agreement with a German BASF Concern to establish a joint venture to produce other forms of polystyrene basing on the German technology.
In August, a governmental delegation of Tatarstan led by the Prime Minister R. Minnikhanov visited Austria. The objective of the visit was the desire of the leadership of the Republic to build a polypropylene plant in Nizhnekamsk. The negotiations were held with the management of the two Italian companies - "Tecnimont" which specializes in constructing petrochemical production facilities, and "Bolearis" which has a state-of-the-art technology to produce polypropylene and polyethylene.
The general director of "Nizhnekamskneftekhim" Inc V. Boussyghin being in the governmental delegation of Tatarstan was offered a feasibility study for the project to build a PP plant 120 TPA.
After reviewing the project, the NKNK experts will give as early as this September their opinion on the capacity and financing sources to build a plant, then the both Parties will be ready to sign a Contract.
A total value of the project amounts to over USD 100m. Apart from NKNK, a desire to participate in financing of the project has been expressed by "Tatneft" company which will share 51% and NKNK - 49% of investments.
According to V. Boussyghin, implementation of this project promises big vistas as to manufacturing in Tatarstan of a wide range of items of such plastic material like polypropylene: it is widely used all over the world to manufacture diverse home appliances, as well as component parts in automotive industry and aircraft industry. Besides, a large-capacity plant (120 000 T) in Tatarstan will ensure an extra big number of new jobs.


Press Service NKNK Inc




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