DATE : 2013-11-01

Sanors Holding (Novokuybyshevsk, Russia) and Mitsubishi Gas Chemical (MGC) have signed a memorandum of understanding (MOU) under which MGC's Natural Gas Chemical Co. will provide its license and technical support for the construction of a methyl methacrylate (MMA) plant in Russia. The 70,000-m.t./year MMA unit will be built on Sanors’ site at Novokuybyshevsk. A contract should be signed in January 2014, the companies say. Toyo Engineering will build the facility. Japan Bank for International Coopertation (Tokyo) is expected to assist with raising finance from the Japanes government to help fund the constructions of the MMA facility and of a downstream polymethyl methacrylate (PMMA) unit at Novokuybyshevsk. Russian banks, including Sberbank, Gasprombank, VTB, and VEB, will also provide credit. Sanors and Maxiglas (Taipei), meanwhile, have signed heads of agreement for the latter to provide technology for the PMMA plant, which will be designed to produce 50,000 m.t./year.

Sanors agreed to purchase the process following a visit to an existing Maxiglas process PMMA plant owned by Shanghai Jing-Qi Polymer Science Co., a joint venture of Wujing Chemical Co. and US investors based at Shanghai. Wujing Chemical is part of Shanghai Huayi. Sanors and Rosneft in June signed an agreement to form a petrochemicals jv.

SOURCE Chemweek's Business Daily