OREANDA-NEWS. June 2, 2008. In connection with the beginning of implementation of several large-scale projects in Nizhny Novgorod Region and the need to implement the JSC SIBUR Holding corporation’s composite strategy in the region, the decision was made to create a unified accountability center for the company's activities in the region.  That center will be the Board of Directors of SIBUR’s largest asset in the region, JSC Sibur-Neftekhim.

At the next Sibur-Neftekhim JSC shareholders meeting it is planned to expand the Board of Directors’ powers and reinforce it with new managers. Vasiliy Nomokonov, acting Production Technology and Optimization Service director at the SIBUR headquarters, will be promoted as a candidate for the position of the Chairman of the Board of Directors.

At present, SIBUR is implementing large-scale projects in the region to develop existing production facilities and construct new ones.  In particular, the corporation, together with its partner, the SolVin company, is beginning implementation of a large-scale investment project to build a PVC production complex with the capacity of 330,000 tons per year.

In order to provide the planned PVC production facility with initial raw materials, it is planned to enhance, in stages, the ethylene production capacity of the Kstovo Petrochemical Plant (part of the Sibur-Neftekhim JSC structure) from 240,000 tons to 430,000 tons per year.  Furthermore, an investment concept for creation of a major industrial park for processing PVC into finished products (construction materials, plumbing pipes, window sections, etc.) at the Sibur-Neftekhim JSC production site in Dzerzhinsk is being worked out in cooperation with the region’s political authorities.

Other investment projects aimed at enhancing the degree of processing of the products of the ethylene production unit currently undergoing renovation are currently being worked out, some of them in partnership with foreign petrochemical companies.
 
Current operating activities are also going through a stage of reforms.  Implementing a program which has already begun will improve the competitiveness of the Sibur-Neftekhim JSC production facilities substantially.

Under the direction of Vasiliy Nomokonov, the board of directors will concentrate on working out strategic solutions and synchronizing various company projects in the region, while General Director Petr Krupnov will concentrate on online management of existing production facilities and implementing plans to renovate and upgrade them.