South Korean companies can join construction of petrochemical complex in Atirau region
Kazakhstan, Astana, May 13 / Trend , K.Arynova/
The South Korean companies may join the project to build a petrochemical complex in Atirau, after the successful conclusion of negotiations, Kazakh President Nursultan Nazarbayev said at a joint press briefing with the President of Korea Li Men Bak.
"I think that we have successfully completed negotiations to build a petrochemical complex in Atirau and on the production of subway cars by Hyundai," Nazarbayev said.
The South Korean company LG Chemical is interested in the project. This is the fourth candidate to participate in the project. The Arabic company IPIC (UAE), SAPIC (Saudi Arabia) and the Dutch-American - LyondellBasell are also interested in building a petrochemical complex in the Atirau region.
The Kazakhs government has also invited Indian companies to participate in this project.
Kazakhstan Petrochemical Industries, whose shareholders on a parity basis are "Sat & Company" LLP and "Exploration Production KazMunaiGas JSC (" daughter "of the national oil company KazMunayGas") is implementing the project to build an integrated petrochemical complex in Atirau region.
The initial project cost was $5.2 billion, but it increased because of price rise for raw materials. The capacity of the complex will be 400,000 tons of polyethylene of low and high density, 400,000 tons of linear low density polyethylene and 400,000 tons of polypropylene a year.
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