Economy
17:17, 26-Jan-2019
Davos is where different views find common ground
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The annual meeting of the World Economic Forum (WEF) has concluded on Friday in Davos, Switzerland. The forum was the place where different views found common ground, according to Sergey Komyshan, Executive Director of Sibur, which is Russia's largest integrated petrochemicals company.
“The forum has [tended] to be a place where everybody is welcomed. Any kind of view is welcomed. And the forum is exactly the place where these different views find common ground,” Komyshan said.
He was impressed by the discussions on the global energy market and plastic waste. “[The topic] is relevant to our businesses and also relevant to anybody,” he said, adding that he was glad to see that “the forum is committed to making the world a better place.”
Sibur is to launch a mega plant, called ZapSibjeftekhim, in Tobolsk in Western Siberia. The plant aims to produce two million tons of polyethylene and polypropylene. "We plan to mechanically complete the project in the second quarter this year,” he said.
The new ZapSibjeftekhim plant, operated by Sibur, in Tobolsk, Russia, on January 24, 2019. /VCG Photo
The new ZapSibjeftekhim plant, operated by Sibur, in Tobolsk, Russia, on January 24, 2019. /VCG Photo
The new project will triple Sibur's capacities, he said, adding that “given the size of the project, we will focus not only on domestic market which usually comes first, but also on our exports to Asia, to China, to Turkey and to Western Europe.”
China Petroleum & Chemical Corporation (Sinopec) and Silk Road Fund have each bought Sibur's 10 percent stakes.
“The two entities have been our shareholders for some time now. Sinopec was the first company to enter Sibur's capital. And since they entered in 2015, we have been developing our relationship,” he said.
One example of well-run partnerships is a joint venture acrylonitrile butadiene rubber (NBR) plant in Shanghai, China. “Many other activities that we have with Sinopec are are at the industrial level, [including] exchange of experience, exchange of know-how. That is something that is happening,” he said.