Russia's Sibur mulls rubber production plant in Saudi Arabia

Russia's Energy Minister Alexander Novak said that the Russian petrochemical company Sibur is considering the construction of a rubber production plant in Saudi Arabia.

The minister added that Russian companies may also take part in the reconstruction and construction of waste treatment plants and some other projects in Riyadh and Jeddah, Russian news agency TASS reported.

Read: https://www.argaam.com/en/article/articledetail/id/595765

"Basically, there are projects in different fields,” he said.

The minister added that Saudi companies are also considering investments in Russia, and the Kingdom may become an investor in the construction of an international terminal in the airport of Grozny, the capital of Russia’s Chechen republic.

Read: https://www.argaam.com/en/article/articledetail/id/507591

"In Russia, these will be construction sector, joint investments in gas chemical projects, ethanol production facilities, Saudi Aramco’s participation in natural gas liquefaction projects, and agricultural cooperation,” he added.

The minister hoped these projects will get some advancement this year in terms of signing specific agreements, TASS reported.

Saudi Arabia has agreed with Russia to launch several initiatives and set up joint investment and production projects by private sector firms in both countries, amidst new visa regulations for businesses.