“SIBUR” will receive 3.3 billion rubles under the program of preferential project financing


Moscow. October 26.”SIBUR” will receive 3.3 billion rubles for a period of 6 years under the state program of support of investment projects implemented on the basis of project financing, which was launched in October of 2014, according to the Sberbank of Russia, which is the authorized Bank in providing credit.

The company confirmed that, to date, received the government guarantee and made first disbursement of credit funds.

“The financing of the project on reconstruction of the South balyk GPP at the expense of own funds of “SIBUR” and credit funds within the framework of the program of support of investment projects according to the government decree 1044 of 11 October 2014″, – emphasized in the company.

Earlier the project cost was estimated at 4.13 billion billion.

In may Glavgosexpertiza Russia issued a positive conclusion on the project documentation and results of engineering surveys for the reconstruction of the South balyk GPP. The goal of reconstruction is to increase the efficiency of associated petroleum gas processing with additional generation of more than 100 tonnes of raw NGL per year.

Modernization of Yuzhno-balyk GPP began in 2007. The first phase was implemented the project on reconstruction of the plant, with a capacity of reception of associated petroleum gas (APG) from 900 million to 1.5 billion cubic meters per year. In 2009, South balyk GPP was put into operation a new complex, allowing to accept for processing 1.3 billion cubic meters of APG per year, which increased the total capacity to 2.93 billion cubic meters of APG per year.

In December 2012 the site hosted the launch of cryogenic condensation and fractionation. As a result of the project, the degree of extraction of target components from APG has reached 98%.

The program of support of investment projects implemented on the basis of project financing, was launched in October 2014. The interest rate for end borrowers now not exceed 11,5% per annum.