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21 March, Thursday

Ufa   °

Terephthalic acid production capacity will be increased in Bashkiria

Economy/Business

UFA, 15 February 2019. /Bashinform News Agency, Azat Gizatullin/ translated by Tatiana Aksyutina/.

In the sidelines of the Russian Investment Forum "Sochi-2019", the Acting Head of Bashkortostan Radiy Khabirov held a working meeting with the Chairman of the SIBUR PJSC Holding Board Dmitry Konov.

The parties noted that in recent years an investment project on expanding the polyethylene terephthalate (PET) production had been successfully implemented at the Blagoveshchensk enterprise. Now Polief JSC is implementing a project to modernize the production of terephthalic acid with an increase in capacity to 350 thousand tons per year.

The total cost of the project is more than 6 billion rubles. The Mono-Cities Development  Fund approved a decision to finance the investment project in the amount of 1 billion rubles at 5% per annum for eight years.

Radiy Khabirov and Dmitry Konov discussed the prospects and format of the project during the meeting.

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