BAKU, Azerbaijan, February 1. Kazakhstan forecasts that 515,000 tons of petrochemical products will be manufactured by local enterprises in 2023, Bulat Aqchulaqov, Minister of Energy of Kazakhstan, said, Trend reports, citing Kazakh media.
The country manufactured around 271,000 tons of petrochemical production in 2022
The minister added that the construction of a butadiene production plant has been started to foster the development of the petrochemical industry in Kazakhstan. The implementation of the project will cost around $900 million.
Aqchulaqov noted that another project significant project will receive financing in 2023.
“This year, finances for the implementation of the “Polyethylene” project will be allocated. This will allow the installation of a gas separator unit, which is necessary to process 9 billion cubic meters of gas, and the design of a polyethylene complex with a capacity of 1.25 billion tons per year has begun”, the minister said.
The decision on the implementation of the “Polyethylene” project was made in 2021. The plant will be built on the territory of the Atyrau special economic zone, which hosts numerous petrochemical enterprises.
Increasing the output of existing petrochemical enterprises and constructing new plants is a part of the strategy of Kazakhstan aimed at transitioning from the resource extracting economy model. Kazakh government focuses on the petrochemical industry due to the positive spillover effect it has on adjacent sectors of the economy.