The European Commission Monday cleared Belgian chemical company Solvay SA (SOLB.BT) to create a joint venture with Russian energy giant Gazprom's (GAZP.RS) Sibur petrochemicals unit, to build a vinyl plant in Russia.
The plant, which will be built in a region about 400 kilometers southeast of Moscow, is expected to be operational in 2010, and will require a total EUR650 million investment, Solvay has said.