Baku, Azerbaijan, Sept. 28
By Ali Mustafayev – Trend:
Two big chemical gas projects worth over $8 billion are being implemented in Kazakhstan, Kazakh Deputy Minister of Energy Magzum Mirzagaliyev said at the briefing in Astana Sept. 28.
“In particular, the United Chemical Company, subsidiary of Sovereign Wealth Fund Samruk-Kazyna Joint Stock Company, will implement two big chemical gas projects in the country’s Atyrau region,” he added. “The first project worth over $2.5 billion covers the production of gas propylene. The second project worth over $6 billion covers the production of polyethylene.”
"Following Kazakh President Nursultan Nazarbayev’s visit to the UAE in early 2017, an agreement was reached to review the joint implementation of the project,” he said. “The negotiations were held with Abu Dhabi’s Borealis company. As a result of negotiations on September 19, 2017, the company’s participation in the project worth more than $6 billion was preliminary approved at the Borealis Board of Directors.”
A joint venture, which will produce different products beginning from film for food and ending with car parts, is planned to be established, said the official.