Nizhnekamskneftekhim OJSC and INEOS Technologies (the United Kingdom) have signed a license agreement for polyethylene production process. As the company’s media service suggests, the license is designed for a new 600 KTA polyethylene production facility, which is expected to be built within the framework of 1 MTA ethylene production complex project. The company intends to launch the complex in 2016. Construction costs are estimated to be US$3 billion. The polyethylene production complex is assumed to consist of two units, each 300 KTA capacity.
“We currently possess the 230 KTA polyethylene production plant based on Basell technology, now we have signed a license agreement for INEOS technology. Our all the three lines will be able to produce different polyethylene grades simultaneously, and we will become competitive not only in Russia and CIS but also abroad”, the media service cites NKNK General Director Vladimir Busygin.
28.6% of Nizhnekamskneftekhim OJSC’s ordinary shares (25.2% of the authorized capital) belong to Svyazinvestneftekhim OJSC, 50.6% (44.5% of the authorized capital) to Telecom-Management LLC (TAIF PSC’s subsidiary), and 8.8% (7.7% of the authorized capital) to NKB Investments Ltd.