SIBUR eyes Indian market; partners with Reliance
The Indian subsidiary "will conduct research on the petrochemical market and support business development with other Russian branches" in the country, the company said. The primary focus of SIBUR Petrochemical India will be the construction of a butyl rubber facility in Jamnagar, which is a joint venture of SIBUR and Indian giant Reliance.
The companies signed an agreement in February this year under which SIBUR will own about 25 percent of the joint venture, with Reliance Industries the remaining 75 percent.
India is the fastest growing market for synthetic rubber globally. The country annually imports up to 75,000 tons of synthetic rubber.
SIBUR produces more than 2,000 different types of products. In 2011, SIBUR it accounted for more than 50 percent of all APG processed in Russia and 34 percent of Russia’s production of synthetic rubbers, 38 percent of LDPE and 27 percent of polypropylene, according to its website.