BAKU, Azerbaijan, Jan. 26
A plant for the production of methanol and olefins for $1.8 billion won’t be launched in the Mangystau region of Kazakhstan, Trend reports referring to LS.
According to the regional authority, the project was planned to be implemented together with an investment company from Singapore on the territory of the Aktau Seaport FEZ (free economic zone).
In November 2019, a capsule was laid at the construction site of this facility. The launch of the enterprise was scheduled for 2023, however, the founders of the company decided to implement the project in the Atyrau region.
So, according to the Atyrau region’s administration, it’s now planned to build the enterprise on the territory of the NIPT (National Industrial Petrochemical Technopark) FEZ.
"The new region was chosen primarily due to the availability of volume and composition of raw materials (gas)," the administration added.
Currently, adjustments and changes are made to the configuration of the plant. The design of the project is expected to start this year. At the same time, preliminary work on a feasibility study has already been completed.
The methanol and olefins plant is expected to be commissioned in 2027. Cost and capacity will be determined later.
Earlier it was reported that the plant's capacity will amount to 300,000 tons of methanol and 600,000 tons of olefins per year.