Kazakhstan and Italy to cooperate in chemical industry

Business Materials 2 May 2019 19:00 (UTC +04:00)

Baku, Azerbaijan, May 2


Multinational Italian corporation is to manufacture chemical reagents and fuel additives in cooperation with Kazakh company KazMunaiHim, Trend reports citing KazInform.

“The realization of this project provides us with new opportunities of cooperation with Italian business and of attracting them as prospective investors in the special economic zone,” said Aibek Tursyngaliyev, a Member of the Board of the Special Economic Zone (SEZ) Pavlodar.

“The new manufacture will prove the effectiveness and stability of Kazakhstan’s major investment platform,” he said.

According to the Pavlodar’s akimat, the Kazakh-Italian venture is already among regular residents of SEZ Pavlodar. As reported, KazFoil LLP also received an official status of the regular resident of SEZ. The company main area of work is manufacture of aluminum foil and structural sections that are used in food industry, construction industry, engineering and metallurgy.

The projects are to be realized before the end of 2019. "The total volume of investments amounts to about eight billion tenge," reads the news report.