On Sept. 17, SINOPEC and SIBUR signed a Memorandum of Understanding on the Cooperation of the Nitrile Rubber (NBR) project in St. Petersburg. Under the agreement, both parties will jointly build a NBR production unit with 50,000 tons/year capacity in China and Sinopec will have a 60 percent stake in the joint venture.
On the same day, the two companies also signed a framework agreement to build a production unit for SEBS (Hydrogenated Styrene-Butadiene Block Copolymer) in Russia with a capacity of over 20,000 tons/year. Each party will hold half of the shares.
The signing ceremony was witnessed by Li Keqiang, Premier of the State Council of the People's Republic of China, and Dmitry Medvedev, Prime Minister of the Russian Federation.