The Industrial Development Fund (IDF) will allocate a concessional loan of 949 million rubles to the company "Omsk Rubber" (part of the Titan Group) to create the production of low molecular weight polyisobutylene in the Omsk region. The agreement was signed within the framework of the St. Petersburg International Economic Forum (SPIEF) with the participation of the IDF Director Roman Petrutsa, Governor Vitaly Khotsenko, and Chairman of the Board of Directors of Titan Group Mikhail Sutyaginsky.
Polyisobutylene is a key component in the production of lubricants, adhesives, sealants, cosmetics, and personal care products. Currently, Russia depends on its import, but the new project will close 80% of domestic demand through full localization – from raw materials to the final product.
The new project of "Omsk Rubber" will allow organizing the production of completely domestic low molecular weight polyisobutylene – a component that will increase the level of localization of the final product in various industries – from mechanical engineering to the cosmetic industry. The Fund will provide the company with 949 million rubles.
Mikhail Sutyaginsky, Chairman of the Board of Directors of Titan Group, added:
The Titan Group is currently working on the implementation of 11 investment projects that will completely replace scarce products of low- and medium-tonnage chemistry in the Russian market. This year, we plan to launch two new unique productions for our country in Omsk – low molecular weight polyisobutylene and isophorone, which meets the objectives of achieving technological sovereignty.
This is already the fourth project of "Omsk Rubber" with the participation of the IDF – previously the company successfully mastered the production of cumene, phenol, and isopropanol.
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