Kazakh Samruk-Kazyna, Russian companies to invest in chemical projects

Kazakhstan 20 January 2022 10:26 (UTC +04:00)
Kazakh Samruk-Kazyna, Russian companies to invest in chemical projects

BAKU, Azerbaijan, Jan. 20


Kazakhstan’s Samruk-Kazyna Fund has signed an agreement on co-investing 14 billion ruble ($180 million) with Russia’s Rusnano and Sintez-Kapital LLCs in the creation of a platform for the joint implementation of chemical projects in the countries, Trend reports referring to the fund.

The new platform will allow the agreement parties to jointly launch the production of a pool of products that are in demand both in Russia and Kazakhstan.

The technological chain will ensure the construction in both countries of new plants and enterprises for the production of oilfield chemicals and special absorbents based on methyl diethanolamine (MDEA).

The project will meet the growing demand of the industry for high-performance MDEA-based sorbents needed to purify natural and process gases from acidic impurities and form the infrastructure, technical and investment solutions for capturing and utilizing CO2.

According to experts, cooperation in the chemical industry will be productive for a number of reasons: - the growing demand for gas cleaning reagents - the availability of an effective proven technology - the optimal supply of raw materials - an established supply chain - the prospects for using products as part of the decarbonization of industries.

Earlier, at the St. Petersburg International Economic Forum-2021, an agreement was signed on the main terms of the contract between the Rusnano Group, Samruk-Kazyna JSC, and the Sintez OKA Group. The final agreement creates a regulatory framework for joint investments.