Tatneft acquires Russia's leading polyethylene terephthalate producer

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AK&M 11 June 2021 00:00

TATNEFT has won the auction for the sale of EKOPET Group, the largest producer and seller of polyethylene terephthalate (PETF) in Russia and the Eastern Europe, Tatneft informed.

The asset was sold by Bank Trust. The signing of the legally binding documents on the deal is expected in the coming weeks.

The nominal rated capacity of the PETF factory is 220 thousand tons per year. One of the latest MTR (Melt-To-Resin) technologies of the German Uhde Inventa-Fischer (UIF) company is used for the production of PETF.

PETF is used for the production of PETF bottles and cans, food containers and packaging, as well as other technical and household products.

PJSC Tatneft is a major Russian vertically-integrated oil company which dynamically develops crude oil and gas production, is involved in oil refining, petrochemicals production, operates a tyre manufacturing complex, a network of filling stations, power engineering, development and production of equipment for the oil and gas industry and a block of service structures.