May 26, 2018 / 4:48 PM / a year ago

Japan's Marubeni to take part in Russian chemical cluster project

ST PETERSBURG, May 26 (Reuters) - Japan’s Marubeni Corporation has signed a deal to help build a methanol production plant and create a chemical cluster in the Russian city of Volgograd, the Russian Direct Investment Fund (RDIF) said on Saturday.

The project involves the construction of a plant with an annual capacity of 0.6-1.0 million tonnes of methanol. The plant has secured access to gas supplies of 1 billion cubic metres (bcm) per year, rising potentially to 2-2.5 bcm, RDIF said.

AEON Infrastructure Corporation, a private international investment and industrial group, is also party to the agreement which was signed at an economic forum in St Petersburg. (Reporting by Polina Devitt; writing by Vladimir Soldatkin; Editing by Maria Kiselyova and Toby Chopra)

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