2010-07-30 [Source: europeanplasticsnews]

The European Bank for Reconstruction and Development has invested more than €50m with Solvay to fund a major PVC plant in Russia.
The EBRD approved the investment last week week together with an 11-year loan of €150m to RusVinyl, a Solvay joint venture that is building the plant in Kstovo. Solvay's SolVin Holding Nederland unit owns a 50% stake in RusVinyl.

When completed, the plant will have annual capacity of more than 300,000 tonnes of PVC and around 220,000 tonnes of caustic soda. The plant is expected to create almost 700 jobs.

The EBRD is jointly owned by the governments of 61 countries, along with the European Union and the European Investment Bank. Since its founding in 1991, EBRD has invested almost €48bnin projects throughout Europe and Asia.