Vnesheconombank to Consider Participation in State-of-the-Art Petrochemical Refining in Omsk

During the Russian Investment Forum in Sochi, Vnesheconombank, the Omsk Region Government and TITAN Group signed a memorandum of cooperation to implement the project “Creation of Bisphenol A Production (Increase of Petrochemical Refining) and Production of Related Epoxy Resins”.

The document was signed on behalf of Vnesheconombank by its First Deputy Chairman and Member of the Board Dmitry Kurdyukov, on behalf of the Omsk Region Government by its Chairman Alexander Burkov and on behalf of TITAN Group by its Chairman of the Board of Directors Mikhail Sutyaginsky.

“Vnesheconombank is willing to review and examine the project, provide consultancy services in relation to financing and take part in attracting and selecting industrial and financial partners for project implementation. High added-value industries are a priority of our investing activities,” Dmitry Kurdyukov said.

TITAN Group’s integrated project to use state-of-the-art, environmentally friendly and safe technology to build an up-to-date, efficient facility to produce Bisphenol A and epoxy resins will supply Russia with 95% of the products currently imported from abroad.

The site of the project is Omsky Kauchuk, an entity of TITAN Group. The project will use the advantages of the existing engineering infrastructure, reliable feedstock, available highly qualified human resources and previous experience in implementing similar projects.

The project’s key advantage is that producing Bisphenol A involves making such a high-performance catalyst as the new generation of a thiol ion-exchange resin, which makes it possible to obtain a high-quality product with a minimum environmental impact: low corrosiveness, no contaminants.

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