KMG, Sibur and Sinopec discuss implementation of project for construction of polyethylene production plant in Kazakhstan

KMG, Sibur and Sinopec discuss implementation of project for construction of polyethylene production plant in Kazakhstan
Photo credit: kmg.kz

Askhat Khassenov, Acting Chairman of the Management Board of JSC NC KazMunayGas, held a meeting with Zou Wenzhi, President of Sinopec Overseas Investment Holding Limited (Sinopec) and Boris Lim, Executive Director for capital expenditure and investment projects of Russia’s JSC Sibur, Kazinform News Agency reports citing the press service of KMG.

The sides discussed the course of implementation of the project for the construction of a polyethylene plant in Atyrau region with the capacity of 1.25 million tons.

“The project is important for the economy of Kazakhstan, since its construction will enable to develop deep processing of raw hydrocarbons. Certain progress has been achieved,  but there is still a lot of intensive work ahead to move to the construction stage and, to launch the plant,” Askhat Khassenov said.

In April 2024, a trilateral protocol was signed, as per which Sinopec officially became the project participant. The structure of the project participants is as follows: KazMunayGas – 40%, Sinopec – 30% and Sibur – 30%.

The plant will be built in the territory of the special economic zone in Karabatan, in close proximity to Tengiz oilfield in Atyrau region.

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