Russia’s SIBUR may double polymer exports to Africa
MOSCOW, RUSSIA -
Media OutReach - 28 July 2023 - SIBUR, Russia's largest petrochemical producer, revealed its plans to double polymer sales to Africa this year in response to the growing demand, as stated by the company representative during the Russia-Africa summit in St. Petersburg.
The rapid economic development in Africa had led to increased consumption of polymers, particularly in North African countries, Nigeria, and the South African Republic. These polymers, including polypropylene and polyethylene, find diverse applications, such as car molding, medical instruments, and plastic packaging, which plays a crucial role in extending the shelf life of food and ensuring global food security.
Since early 2022, SIBUR has been redirecting its export sales from Europe to emerging markets, including Africa. The company processes residuals of oil and gas production into value-added polymers while also implementing a long-term program to reduce its carbon footprint.
The rapid economic development in Africa had led to increased consumption of polymers, particularly in North African countries, Nigeria, and the South African Republic. These polymers, including polypropylene and polyethylene, find diverse applications, such as car molding, medical instruments, and plastic packaging, which plays a crucial role in extending the shelf life of food and ensuring global food security.
Since early 2022, SIBUR has been redirecting its export sales from Europe to emerging markets, including Africa. The company processes residuals of oil and gas production into value-added polymers while also implementing a long-term program to reduce its carbon footprint.
The issuer is solely responsible for the content of this announcement.
About SIBUR
SIBUR is Russia's largest integrated petrochemical company and one of the fastest growing global petrochemical players, with approximately 50,000 employees. The Company's unique vertically integrated business model enables it to deliver highly competitive products used in the consumer goods and automotive industries, as well as construction, energy, chemistry and other industries across 100 countries.
SOURCE:
SIBUR
CATEGORY:
Manufacturing
PUBLISHED ON:
28 Jul 2023
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