Tecnimont, the engineering and construction Company of Montedison Group, has signed in Moscow, with AK Sibur, a Russian Company controlled by Gazprom, a contract covering the grant of licence and the supply of engineering, materials and equipment as well as technical assistance for the implementation at Kstovo (Nizhniy Novgorod) of a 120,000 tpy high-density polyethylene plant. The contract value is about EUR 90 Million. The plant that will be completed in 30 months, will adopt the “Hostalen” technology licensed by Basell, a company jointly owned by BASF and Shell, the leader in polyolefins. The plant will produce high-density polyethylene natural and coloured, particularly proper for the production of pipes suitable for gas and liquid as well as package thin film. Sibur is the largest industrial petrochemical group of the Russian Federation, with important participations in Hungary and other East European countries.