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Rosneft and ChemChina set up joint construction enterprise

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Rosneft and ChemChina set up joint construction enterprise

Today, the head of JSC Rosneft Igor Sechin and the General Director of the China National Petrochemical Company (ChemChina) Yang Sincan signed an agreement on the terms of a joint venture.

The document was signed in the Chinese city of Qingdao. According to TASS news agency, in accordance with the document, the parties will establish a joint venture for construction of plant polymer coatings and paints, as well as for research activities. The facility, which will have a capacity of 50,000 tons per year, will be located on Bolshoy Kamen advanced development territory in the Primorsky region of Russia.

For these purposes, Rosneft and ChemChina will conduct a feasibility study of the project. As a result, the largest enterprise producing special marine and Arctic marine coatings will be created in Russia.

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