MOSCOW -- Gazprom Neft has signed an agreement with Total to form a joint venture to produce and sell modified bitumen and bitumen emulsions on the Russian market
, Gazprom Neft said in a statement.
Each partner will have a 50% stake in the joint venture, which will build a special production
facility at Gazprom Neft's Moscow oil refinery.
The facility will have a capacity of 60,000 Mt of polymer modified bitumens and 7,000 tons of bitumen emulsions per year.