China to finance Kazakh gas chemical complex
Baku, Azerbaijan, Sept. 5
By Elena Kosolapova – Trend:
Kazakhstan Petrochemical Industries Inc and the State Development Bank of China signed a loan agreement on the construction of the first integrated gas chemical complex for polypropylene production in Kazakhstan’s Atyrau region, Kazakh National Wealth Fund Samruk-Energy reported on Sep. 5.
The polypropylene production complex will be located in the special economic zone "National Industrial Petrochemical Technology Park" and have capacity of 500,000 tons per year. The complex will process raw materials from the Tengiz field and produce products for a wide range of industrial and consumer industries. The cost of the project amounts to $2.6 billion, the construction is scheduled to be completed in 2020.
In November 2016 it is planned to start fulfilling the EPC contract on the project, including ordering long-lead equipment. Lummus Technology Inc., one of the recognized world leaders in the field of petrochemical technology, has been selected to implement the project.
Kazakhstan Petrochemical Industries, which operates the project is a subsidiary of Kazakh United Chemical Company, owned by Samruk-Kazyna.
Polypropylene is used in all branches of industry such as electronics, electrical engineering, machine building, automotive industry, transportation technologies, professional equipment, industrial and commercial construction, and others.
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