SIBUR, Samruk-Kazyna and KazMunayGas have signed an agreement to cooperate on petrochemical projects.
This will take place in the special economic zone National Industrial Petrochemical Technopark in Atyrau, Kazakhstan.
The agreements regulate the establishment of joint ventures as part of an integrated gas chemical complex including building a polyethylene facility and a polypropylene plant. SIBUR’s share in both joint ventures stands at 40%.
Dmitry Konov, chairman of the Management Board at SIBUR Holding, said: “SIBUR consistently develops its petrochemicals business and has a vast expertise in building, commissioning and operating world-scale petrochemical complexes.
“This, combined with our partners’ extensive experience in developing and running large oil and gas production, transportation and refining facilities, will give our joint ventures a competitive edge on the global market, adding new capacities to our asset portfolios.
“The launch of new facilities will also boost domestic polymer consumption in Kazakhstan and other member states of the Eurasian Economic Union and improve export potential of high value-added products thanks to SIBUR’s existing infrastructure and competencies.”
Alik Aidarbayev, chairman of the management board at KazMunayGas, added: “KazMunayGas has been commissioned by the Kazakh government to develop national petrochemicals industry. With the next step being the polyethylene project, we believe SIBUR to be a reliable partner possessing the necessary expertise and technology. Moreover, this cooperation will enable Kazakhstan to enter new sales markets.”
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