European Bank Invests In Solvay Vinyl Plant

The European Bank for Reconstruction & Development will invest $67.5 million in SolVin to support construction of Rus­Vinyl, an integrated polyvinyl chloride plant in Kstovo, Russia. SolVin is a 75/25 joint venture of Solvay and BASF that has a 50% stake in the RusVinyl plant. In addition, the bank will provide an 11-year, $195 million loan to RusVinyl. An earlier Solvay foray into Russia ran into trouble. In June, Solvay announced that its attempt to purchase a majority stake in a Russian soda ash plant could not be finalized in time to prevent a competing bidder, the Bashkhim Group, from acquiring control of the facility (C&EN, June 14, page 26).