MOSCOW (MRC) - Polish chemicals maker Synthos aims to invest about USD170 million in its planned synthetic rubber plant in Brazil, said Reuters, citing the group's chief executive.
The facility, based on French tyre maker Michelin's licence for the production of synthetic rubber, would use raw materials supplied by Latin America's top petrochemical company - Brazil's Braskem.
The plant will be launched in 2016 or 2017, Synthos CEO Tomasz Kalwat told Reuters. "We plan to spend around USD170 million until 2017 or 2018, as the last payments usually take place some time after the construction," he said.
Synthos - controlled by one of Poland's wealthiest businessmen, Michal Solowow - signed a conditional 15-year deal with Braskem worth around 4.5 billion zlotys (USD1.5 billion) for the supply of butadiene to the plant.
Michelin and its Italian rival Pirelli have signed multi-year deals with Synthos for the delivery of synthetic rubber from the plant worth 1.15 billion zlotys and 1.55 billion zlotys, respectively.
Synthos S.A. is one of the largest manufacturers of chemical raw materials in Poland, as well as being Europe’s No. 1 manufacturer of emulsion rubbers and leading manufacturer of polystyrene for foaming applications. We remind that Synthos Dwory announced an increase for April price following price rise for styrene monomer contracts. The range of April PS prices from Polish producers will be in the range of EUR1,500-1,550/tonne FCA Auschwitz, excluding VAT.
MRC