Polyethylene production to contribute to Kazakhstan's GDP
Baku, Azerbaijan, Oct. 19
By Rashid Shirinov – Trend:
The contribution to Kazakhstan’s GDP of the future gas chemical enterprise for polyethylene production, which the Austrian company Borealis intends to build, will be about 1 percent, the company’s Senior Vice President Espen Ostmoe said at the Kazakhstan-Europe Business Forum in Brussels, according to Kazinform.
The project is planned to be implemented in the country’s Atyrau region. The capacity of the future enterprise will be 1.25 million tons per year.
"This project will contribute to the creation of the gas chemical industry in Kazakhstan with very significant exports to the CIS countries and Europe," said Ostmoe.
He noted that investments in the project will amount to more than $5 billion, while export sales of future production are expected at about $2 billion.
Borealis, headquartered in Vienna, is a leading European producer of polyolefin, basic chemicals and fertilizers. The company's revenue amounted to 7.6 billion euros at the end of 2017.