The project to create a petrochemical complex at "Polimir" requires re-analysis - "Belneftekhim"

May 26, Minsk / Milena Anufrienok - BELTA /. The project to create a new petrochemical complex at the Polimir plant requires re-analysis. This was announced today at a press conference in Minsk by Bronislav Siviy, Deputy Chairman of the Belneftekhim concern, as reported by a BELTA correspondent. The concern's representative noted that the previously planned project requires significant investment and is currently very risky. "Currently, capacities for the production of polypropylene and low-pressure polyethylene are being created in the Middle East region with production volumes of millions of tons," he said. It will be difficult for Polimir to compete with such powerful production facilities. "We need to select a consulting company again to determine the prospects for the plant's development in the current conditions," added Bronislav Siviy. "We need to figure out what will happen to the market in the near future, with the prices of chemical products, and after that, make forecasts for a particular reconstruction option," continued the Deputy Chairman of Belneftekhim. According to him, when searching for an investor for the development of Polimir, the priority is not so much attracting financing as guaranteed raw material supplies. In this regard, negotiations have been and continue to be held with Lukoil and Rosneft. According to Bronislav Siviy, the issue of attracting a strategic investor who will ensure guaranteed raw material supplies is relevant for other enterprises of Belneftekhim as well. In particular, negotiations are underway with the Russian company EuroChem regarding its participation in the development of Gomel Chemical Plant OJSC. The possibility of attracting a strategic investor to Grodno Azot OJSC is being worked out. -0-