A Russian project financing has closed with international banks
accepting full onshore market risk. It could represent a
turning point for project finance in the country.
In a 50/50 joint venture, Russian petrochemical
company Sibur and Belgium’s SolVin signed a 12.5
year, €750 million (£660 million) project financing
for the RusVinyl polyvinyl chloride plant on June 17.
In a first for the Russian energy sector, the financing
included a Russian borrower, Russian law project documents, a
domestic offtake strategy and ruble-denominated funding.