OREANDA-NEWS. February 18, 2010. The petrochemical Group of SIBUR and the Leader-Innovations Private Investment Fund of High-Risk (Venture) Investments under the management of Leader MC have run their joint facility OOO Plastic-GeoSynthetic for development of modern geosynthetic materials research and production center at industrial site in Tulskaya Oblast.

''The partnership between SIBUR and Leader aims at efficient utilization of hydrocarbons, improved combination of high-tonnage manufacture of polymers and high-performance polymer-based products'', Dmitry Konov, SIBUR’s President says. ''The project provides for manufacture of modern innovative materials which considerably increase durability of roads and building structures''.

''The key investment priority of our venture fund is industrial innovations the best way to implement which is to undertake joint projects with top Russian businesses. We see in SIBUR’s project the opportunity to participate in implementation of industrial innovations preparing to make a qualitative leap in performance of the country’s infrastructure-related projects, a high-efficient team drawing its strength on resources of huge production company, and of course very strong business'', Sergei Kerber, Head of Management Board, Investment Projects and Initiatives of Leader MC says.

The share of SIBUR (both direct and indirect, through ОАО Plastic, its subsidiary) in charger capital of the new enterprise is 66.67% at present, and that of Leader-Innovation is accordingly 33.33%. The General Director of OOO Plastic-GeoSynthetic was appointed Vyacheslav Gorodilov. 

At its first stage, the joint venture will focus at implementation of already started projects intended to create new production facilities at OAO Plastic’s industrial site, i.e. for manufacture of flat geogrids and non-woven geofabrics. By late 2010, the total design capacity of the joint facility is expected to reach 3 thousand tons of geogrids and approximately 10 thousand tons of non-woven fabric per year.

On the next stage, the facility’s products are to be utilized in manufacture of composite geomaterials used in hydroinsulation, slope erosion protection, and reinforcement of road bases.

Research units of OOO Plastic-GeoSynthetics, together with the industry’s research institutes and SIBUR’s NIOST Center will focus on development of second to none in Russia  innovative products which have to ensure further increase of their durability and exposure-proof qualities. The operations of the joint venture are also intended to inspire the development of Russian petrochemistry, stimulating demand for polymer feedstock.