ASTANA, Kazakhstan, October 17. President of Kazakhstan Kassym-Jomart Tokayev has met with the Chairman of the Board of Directors of SINOPEC, Ma Yongshen during his official visit to China, Trend reports.
During the conversation, the prospects for further cooperation and the implementation of joint investment projects in the petrochemical and energy sectors were discussed.
Tokayev noted that a striking example of sustainable cooperation between Kazakhstan and SINOPEC is the company’s entry as a full partner in the polyethylene production project. Kazakhstan has not yet implemented such a large-scale, world-class petrochemical project. The total cost of the project will be $7.7 billion.
"We highly appreciate the company’s contribution to the development of bilateral relations between Kazakhstan and China, as well as the oil and gas industry of our country. We are interested in cooperating with your company. We consider your company a strategic partner of Kazakhstan," he said.
In turn, Ma Yongsheng informed Tokayev about the company’s intention to begin construction of the plant in the second half of 2024. He also shared plans for the implementation of another strategic project - the construction of a complex for the production of terephthalic acid and polyethylene terephthalate on the basis of the Atyrau oil refinery.
In addition, issues of cooperation in the field of geological study of subsoil and subsoil use, including the use of the latest technologies in this industry, were discussed at the meeting.