Sber will finance the construction of the Amur Gas Chemical Complex by providing USD 700 mn through a syndicated loan. The total size of the loan attracted from Russian banks is USD 2.1 bn, maturing in 2035.

Andrey Shemetov, senior vice president, head of SberCIB, Sberbank:

"Sber took part in a syndicate to finance the Amur GCC by providing USD 700 mn. The Amur Gas Chemical Complex is designed to widely use green energy, a closed water treatment system, and other technological solutions aimed at reducing the carbon footprint and meeting international environmental standards. Undoubtedly, Sber has a focus on projects like that. I would also like to note that the Amur GCC project is extremely important not only for the regional economy. It also significantly strengthens the competitive opportunities for the Russian chemical industry in the international market."

Peter O'Brien, board member and managing director for Economics & Finance at SIBUR:

"SIBUR's experience in raising funding for large-scale investment projects is unique. The attraction of financing for the construction of the Amur Gas Chemical Complex, one of the largest polymer complexes in the world, proves that the project will be implemented on time and the market will see new volumes of highly popular materials, such as polyethylene and polypropylene, which meet the needs of modern society."

The Amur GCC is a joint venture between SIBUR and China Petroleum & Chemical Corporation (Sinopec) for the production of polyethylene and polypropylene brands sought-after on the Russian and global market. The annual output of the complex will be up to 2.7 million metric tons of finished products. The complex should become a modern production facility, which will be among the world's best petrochemical facilities in terms of its environmental and operational metrics. It was designed and will be built using the latest digital technologies and solutions from the world's leading licensors, which will ensure its power efficiency, long-term non-stop operation and all-round safety.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Sberbank of Russia published this content on 08 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 December 2021 11:41:09 UTC.