Dow Chemical seeking partner to build plant in Russia
Dow Chemical, the world’s second largest chemicals company, is looking for a partner to build its own petrochemicals plant in Russia, the head of the company’s Russia and CIS division, Andrian van den Berge told Interfax.
The plant will be built if the company finds a suitable partner, and given the time, opportunity and favorable economic conditions for investment on this scale, he said, adding that he would like to see the project happen as soon as possible. He named Gazprom as a potential partner for construction of the plant. Gazprom is the leading gas producer, while Dow Chemical is the leading processor, so they could form a successful alliance in the energy sector, he said, adding that negotiations are already underway with the Russian gas giant.
Russia now produces less ethylene than Dow Chemical produces at a single plant, he said. Dow Chemical’s turnover in Russia and the CIS totaled $530 million last year. The company has been growing by more than 30% in Russia, and it expects revenue to also increase 30% in 2007.
Dow is a diversified chemical company that harnesses the power of innovation, science and technology to constantly improve what is essential to human progress. The Company offers a broad range of products and services to customers in more than 175 countries, helping them to provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. (yarnsandfibers.com, dow.com)
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