Arabic Emirates businessmen negotiate with SIBUR-Neftekhim

A delegation of industrialists from the United Arab Emirates includingheads of the Ghantoot Transport & Gen. Cont. Est., Ghantoot Transport &Gen.Cont.Est., Liwa Petroleym Est., Elwin Investment, PB&ME companies hasvisited Nizhni Novgorod and held negotiations on cooperation with theSIBUR-Neftekhim company, the press service of the Russian petrochemicalcompany reported. During the negotiations the parties considered issuesconcerning the cooperation in the production and selling of chemical andpetrochemical products and the modernization of current and theconstruction of new production facilities. Representatives of the UnitedArab Emirates were especially interested in the possibility of organizing ajoint enterprise on creating facilities for the transportation ofSIBUR-Neftekhim products through the international corridor 'North-South'.The delegation visited SIBUR-Neftekhim's ethylene and glycol producingplant where they got acquainted with main technological processes andexamined the line of synthenol production, which is not working at fullcapacity due to a lack of raw material resources that are necessary for theproduction of synthenol. As a result of the negotiations the parties signeda protocol that stipulates main directions of cooperation on the synthenoland hermetic production at the production facilities of SIBUR-Neftekhim. Itwas decided to elaborate on a mutual plan on launching Russian latesttechnologies at chemical and petrochemical enterprises of the Persian Gulfcountries. After the negotiations the chairman of the Ghantoot Transport &Gen. Cont. Est. Group of companies declared that the goal of their visit toRussia was to open Russia for Arabic capitals, as their share in the totalamount of foreign investments was very small currently. Valery Istomin,chairman of the PB&ME company, pointed out he was sure that the technicaland economic assessment of investments would soon be made and theimplementation of bilateral projects would be started this! year. .

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