| 2007-01-22 |
Îïóáëèêîâàíî: UralInfromBureau |
Federal Department of Financial Markets has registered additional emission of 260 million rubles worth shares by ZAO UralMethanolGroup (a joint venture between ITERA Oil and gas Company LLC and Uralkhimplast). By placing 260 000 shares 1,000 rubles each for private offering the company will achieve a 47 fold increase in the equity capital, i.e. up to 265.6 million rubles. The shares are distributed among the shareholders on a 50/50 basis.
The joint venture company is implementing a gas chemical facility construction project in Nizhni Tagil. The first phase will incorporate construction of a 400 thousand tons methanol plant followed by construction of propylene and polypropylene production facilities. The practicality of the latter projects is being assessed by the joint task group established by Uralkhimplast and ITERA. Primarily, the assessment concerns production of propylene and polypropylene grades 400, 450, 470 scarcely available in the Russian market.
LURGI (Germany) and BASELL (Switzerland) are working on the respective technical proposals. POERNER, an Austrian engineering company is providing UralMethanolGroup with consulting services.
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