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Kazakhstan disclosed the volume of investments in joint projects with Sibur and Tatneft

CIS PETROCHEMICALS

Kazakhstan disclosed the volume of investments in joint projects with Sibur and Tatneft

Sibur, Samruk-Kazyna and Kazmunaygas signed a cooperation agreement in early October in regards to petrochemical projects in Kazakhstan – Rupec

According to Murat Zhurebekov, First deputy minister of energy of Kazakhstan, the volume of investments in Sibur’s joint project with Kazmunaygas to facilitate the production of polyethylene, which will be commissioned in 2022, will amount to approximately $ 6.5 billion.

It will be one of the largest factories, the volume of investments is about $ 6.5 billion, and Sibur and Kazmunaigaz will implement this project

Murat Zhurebekov, First Deputy Minister of Energy of Kazakhstan

The cooperation agreement between the companies provides for the construction of a polyethylene plant with a capacity of 1.25 million tons per year, and a polypropylene plant with a capacity of 500 thousand tons per year. Sibur's share in both joint ventures will be 40%.

In the statement by the Russian petrochemical giant, it was noted that Sibur's participation in joint ventures will be implemented after obtaining all of the necessary regulatory approvals and after commissioning a polypropylene production complex.

Zhurebekov also noted that Kazmunaygas and Tatneft’s project for the construction of a butadiene plant in Kazakhstan is estimated at $ 1 billion. This figure exceeded the estimate of $ 800 million given by the Minister of Energy of Kazakhstan Nurlan Nogayev in August. The launch of this project is expected until 2027.

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