Rosneft and ChemChina Signed an Agreement on the Development of the Project for Construction of a Coating Plant

MOSCOW, June 3, 2017 /PRNewswire/ —

Rosneft and the China National Chemical Corporation (ChemChina) signed an agreement on the development of a project for the construction of a polymer coating plant at the XXI Petersburg International Economic Forum. The document was signed by Rosneft Vice President for Energy, Localization and Innovation Andrey Shishkin and President of Haohua Chemical Corporation Chen Hong in the presence of Rosneft Chief Executive Officer Igor Sechin.

The document defines the stages of further implementation of the project for the construction of a plant for the production of polymer coatings and special paints, as well as the conditions for the creation of a joint venture.

As a result of the project implementation, the largest enterprise will be created in Russia for the production of special coatings for marine vessels of different classes including Arctic class.

The products planned for production at the plant will find its application in the work of the shipbuilding complex Zvezda in the Far East of Russia, created as designated by the President of the Russian Federation Vladimir Putin.

Note for editors:

In December 2016, Rosneft and ChemChina signed an agreement on the basic conditions for the creation of the joint venture. In accordance with the document, the parties will create a joint venture in the territory of the advanced development of Bolshoi Kamen in Primorsky Krai of Russia to build a plant and produce polymer coatings and paints with an annual capacity of up to 50,000 tons of products, as well as research and development. In this regard, Rosneft and ChemChina will conduct a feasibility study of the project and the necessary arrangements for the preparation of the joint venture.

SOURCE Rosneft