BAKU, Azerbaijan, August 31
Trend:
The Kazakh government is developing a special investment agreement in the field of petrochemistry, which will contain special preferences aimed at stimulating investments in the development of this sector, Kazakh Minister of Energy Nurlan Nogayev said during the international practical conference in Russia's Tatarstan dedicated to a new paradigm for the development of the fuel and energy complex within the EU decision on decarbonization, Trend reports on Aug. 31.
“The government has the task of developing this sphere of activity,” Nogayev said. “So, the plants for the production of aromatic hydrocarbons, lubricating oils, polypropylene and octane enhancer additives for gasoline are successfully operating in Kazakhstan today.”
The products produced by these plants are in great demand in the domestic market and are also exported to such neighboring countries as China, Russia, Uzbekistan, etc.
A polypropylene plant with a capacity of 500,000 tons per year and worth $2.6 billion is under construction in Kazakhstan.
Moreover, the projects for the production of polyethylene terephthalate, methanol, olefins, polyethylene, butadiene, and base oils are at various stages of development.
The total cost of these projects is about $12 billion.