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A recent Financial Times piece analysing SIBUR’s expansion plans under Dmitry Konov, its longstanding chief executive. Under Mr Konov, the company is investing $1bn on two new plants which are expected to boost polymer production six-fold in the span of a decade. This is just one step for the company who are determined to become a truly international player. The others have been selling off non-core assets, such as tyre production, and focusing on being a petrochemical producer.
Notable developments for the company include the $8.5bn ZapSibNeftekhim, which will be operating at a rate of 2m tonnes of polymers per annum from 2019 and the $7.5bn Amur plant which will become operational by 2024. These successes are being matched by management changes. SIBUR has given more autonomy to regional operations as opposed to running a heavily centralised operation from the headquarters. This helped to provide a greater focus on strategy and fresh growth opportunities.
Founded in 1995, today SIBUR is a leading Russian integrated petrochemical company, employing over 27,000 people and serving customers in over 80 markets around the world in a range of industries including FMCG, automotive and chemical. It focuses on production of petrochemicals required by manufacturers to delivers quality goods around Russia and the world.