Industry News

JV to Build Polymeric Coatings Plant - Rosneft and ChemChina

Published on 2017-01-10. Author : SpecialChem

Rosneft and the China National –°hemical Company (ChemChina) have signed a Heads of Agreement on establishing a Joint Venture. The document was signed by Rosneft Chief Executive Officer Igor Sechin, and General Manager of ChemChina Yang Xingqiang.

Polymer Coatings Facility with a Capacity of 50 Thousand Tons

Rosneft Agreement
JV to Build Polymeric Coatings Plant
- Rosneft and ChemChina

According to the terms of the document, the parties will establish a joint venture in the Bolshoy Kamen priority development territory in Primorsky Krai, Russia.

The JV will help:

  • Build a plant and a polymer coatings and paints facility with an annual capacity of 50 thousand tons
  • Implement R&D activities

In that regard, Rosneft and ChemChina will conduct a feasibility study of the project and carry out the necessary preparations to set up a joint venture. As a result of the project implementation, the largest facility to produce special marine and arctic vessel coatings, a leader in this segment, will be established in Russia.

Polymer Coatings for Ships

The plant’s production will find its application at the Zvezda shipbuilding complex in the Russian Far East, being constructed under the order of the President of Russia Vladimir Putin. In particular, Rosneft and ChemChina will establish a working group to develop new polymer coatings for ships of various classes, including Arctic class vessels.

About Rosneft

Rosneft is one of the leaders of Russia’s petroleum industry and one of the world’s largest publicly traded petroleum companies. Company’s main activities include prospecting and exploration of hydrocarbon deposits, oil, gas and gas-condensate production, upstream offshore projects, processing, as well as oil, gas, and product marketing in Russia and abroad.

About ChemChina

China National Chemical Corporation (ChemChina) is a state-owned enterprise established by reorganizing the subsidiary companies under the former Ministry of the Chemical Industry, People’s Republic of China. ChemChina is ranked 234th on the "Fortune Global 500." With revenues of $45 billion in 2015, ChemChina is China’s one of the largest chemical companies. It has more than 140,000 employees with 52,000 outside China.

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Source: Rosneft
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