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Russia's Sibur, TAIF merge petrochemical businesses

MOSCOW, April 23 (Reuters) - Russia’s Sibur and TAIF have agreed to combined their petrochemical businesses to create one of world’s top five producers of polyolefin and rubber products, Sibur said on Friday.

TAIF said the deal would help TAIF Group substantially accelerate key projects in its 2030 strategic development programme that will see more than 1.5 trillion roubles ($20 billion) of investments over the next 10 years.

$1 = 74.8900 roubles Reporting by Vladimir Soldatkin; Editing by Edmund Blair

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