Sibur confirms project delays; MBO 'no longer on the agenda'.(BUSINESS & FINANCE NEWS: EUROPE/MIDEAST)(management buyout)

Sibur, Russia's biggest producer of petrochemicals, has delayed or shelved all of its expansion projects due to the economic and financial crisis, Sibur president Dmitry Konov says. "We have not cancelled any of our largest projects, but we have adjusted the timing and start-up dates," Konov says. "We have moved our spending burden from 2009-10, to 2011-12."

Completion of Sibur's previously announced propane dehydrogenation and 500,000-m.t./year polypropylene (PP) plant at Tobolsk, Russia has been delayed from late 2010 until the third quarter of 2012, Konov says. Sibur announced at the start of this year that completion of the company's RusVinyl joint venture with SolVin--a …