In the presence of Chinese President Xi Jinping, and President of the Russian Federation Vladimir Putin, Silk Road Fund exchanged with SIBUR an executed Agreement on Furtherance of Cooperation signed by Wang Yanzhi, President of Silk Road Fund, and Dmitry Konov, Chairman of the Management Board at SIBUR Holding, on June 5.
According to the agreement, the parties will coordinate efforts for potential joint investments in petrochemical projects, strengthen cooperation in third-party markets, further develop trade and economic relations between China and Russia.
SIBUR is a vertically integrated gas processing and petrochemicals company. SIBUR owns and operates Russia’s largest gas processing business in terms of associated petroleum gas processing volumes, and is a leader in the Russian petrochemical industry. In January 2017, Silk Road Fund acquired a 10% equity stake in SIBUR.
SRF is a medium-to-long term development and investment fund established under the framework of "Belt and Road Initiative". Following a philosophy of openness, inclusiveness and mutual benefit, SRF operates its business based on market principles, international standard and professional excellence.