OREANDA-NEWS. Otechestvennye Polimery LLC, LUKOIL-Neftekhim and SIBUR's joint venture, has concluded a deal on the share purchase of POLYEF JSC, the only polyester/polyether producing complex in Russia.

POLYEF JSC would remain independent, specifically, in the field of feedstock purchase and marketing. Strategic development would be governed by the Board of Directors consisting of 6 representatives of Otechestvennye Polimery JV, 3 representatives of Zavod Selena LLC and 2 representatives of Bashkortostan authorities.

Today POLYEF JSC shareholders are working out an investment program for the coming years targeting the enhancement of the TPA and PET production up to 600 KTA and 400 KTA respectively.