Sinopec acquired 10% of SIBUR

SIBUR and Sinopec announced today the successful completion of Sinopec’s 10% minority investment in SIBUR as a strategic investor.
In September 2015, SIBUR and Sinopec signed a strategic partnership agreement during a state visit by Vladimir Putin, President of the Russian Federation, to Xi Jinping, the President of the People’s Republic of China. The successful completion of the transaction is an important step in the development of the strategic cooperation between the two countries.
The two parties will continue the dialogue to widen the scope of collaboration. As a next step, both companies are considering the participation of Sinopec in the Amur Gas Chemical Complex construction project as a strategic partner with SIBUR. Sinopec’s integrated upstream and petrochemical capabilities will reportedly make a positive impact and benefit both parties.