Sibur to buy Tobolsk thermal power plant of Fortum

Sibur wants to buy the third-generation capacity station of Fortum - Tobolsk thermal power plant – for 9 billion rubles. FAS previously approved the transaction. The chemical holding company needs the asset as the sole supplier of industrial steam. According to analysts, through the deal Sibur tries to optimize its costs, but it will be difficult refuse to sell the power  of the station to the wholesale market.

The Federal Antimonopoly Service has previously agreed to the request of Sibur Holding to buy Tobolsk thermal power plant, owned by Fortum. The transaction was approved under the condition that the Sibur’s subsidiaries will come out of the electric business, as the combination of the production and sale of electricity transmission is prohibited by law. Fortum said that it negotiated on the sale of the Tobolsk plant to Sibur. A source in Sibur noted said that the purchase of the thermal power plant was needed for the development of the industrial site of Tobolsk, where more than 85% of thermal energy from this station are already delivered. He added that there was the opportunity to dispose by-products of the Tobolsk enterprise production as another type of fuel for the power plant.