Russian-based Nizhnekamskneftekhim (NKNH) will delay its plan to build a one-million-tons-per-year ethylene production complex in Russia for one year following the changing situation in global financial markets.
The firm now plans to focus on the manufacture of synthetic rubber of 700t – 800t by 2014.
The firm initially planned to construct the €2.1bn ($2.8bn) complex, including 600,000 tons per annum (tpa) polyethylene capacity and 370,000tpa for polypropylene plants, in Russia's Tatarstan semi-autonomous republic, as part of a five-year €3.2bn investment programme to 2015.
The firm is also building a 60,000tpa acrylonitrile butadiene styrene (ABS) production plant, which is expected to be completed by 2011.
