French specialty chemicals maker Rhodia will create a venture with Sibur Holding to tap the $500 million surfactant, or detergent chemicals, market in Russia and neighboring nations.
The companies have signed a memorandum of understanding to create the 50-50 project by the end of 2011, Emmanuel Butstraen, head of Paris-based Rhodia's Novecare unit, said in a telephone interview. The venture, which will use Sibur facilities about 400 kilometers east of Moscow, should be operational in 2013, he said.
(Bloomberg)
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