"Rosneft" and Chinese National Chemical Corporation (ChemChina) signed an agreement on the establishment of stages for further implementation of the Eastern Petrochemical Company (VNHK) project and a creation of a joint venture. The document was signed by the head of "Rosneft" Igor Sechin and the chairman of China National Chemical Corporation, Ren Jianxin. The agreement confirms the intention of the parties to develop VNHK project and create a joint venture for the purposes of its implementation. Also, the agreement specifies the interest of the parties in the joint venture - "Rosneft" will own 60%, while ChemChina - 40%.