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EastRussia Bulletin: polymer production will take place in Angara
Irkutsk Oil Company (INC) presented a project for a polymer plant with a capacity of 650 thousand tons of low and high density polyethylene per year. It is supposed to be built by 2024 as part of the company's gas project, according to the next published issue of the EastRussia newsletter.
The construction cost is estimated at 168 billion rubles. Ethane from the Ust-Kutsk gas processing plant, also currently under construction by INC., Will be used as raw material in production. INK engaged the Japanese engineering company Toyo Engineering Corporation to build the polymer plant.
INC is counting on the maximum realization of the potential of its own reserves of fatty gas in the absence of access to the gas transmission system. Nevertheless, industry experts doubt the high profitability (over 10%) of capital-intensive polymer production under the existing tax legislation.
Detailed analytics on this and other relevant topics can be found in EastRussia Weekly Newsletter.