16 October 2014, Thursday, 17:59

Bashneft concluded with RusPETF a 25-year contract for paraxylene supply


UFA, 16 October 2014. /Bashinform News Agency/. Bashneft has concluded a paraxylene supply contract with Ufa LLC RusPETF. The volume of the transaction is not more than 240 thousand metric tons per year. The contract amount is not more than 4.4 billion dollars, according to the materials of the oil company.

The contract will be valid 25 years from the start of paraxylene supply. Within this period of validity the contract is limited to a set price of the transaction.

LLC RusPETF (Ufa) is a joint venture between the United Petrochemical Company and the Mexican holding Alpek, created for design and construction of a plant to produce terephthalic acid and polyethylene terephthalate in the amount of 600 thousand tons and 500 thousand tons per year, respectively. Start of production is planned for 2017.