Kazakhstan to build 5 new petrochemical plants by 2025

tengrinews.kz

The volume of petrochemical production in Kazakhstan is planned to be brought up to two million tonnes by 2025. The exports of the sector will increase eight times during this period, said Kazakh Minister of Energy Nurlan Nogayev at a meeting in the Mazhilis, the Lower House of the Kazakh Parliament. The main goal of the industry is the transition to the production of deep processing products in oil and gas sector with high value-added. This will significantly diversify the economy. In four years, it is planned to launch five plants worth US$4.7 billion and begin construction of seven plants worth US$12.7 billion.

“Taking into account the large capital intensity of petrochemical projects and duration of their payback periods, in order to attract investments in this sector, the Ministry is considering introducing a mechanism for a special investment agreement for petrochemical projects on the principle of a “single document”. In 2021 to 2025, 3.9 trillion tenge (US$9.1 billion) of investments will be attracted to implement petrochemical projects,” the minister said.

Translation by Saniya Sakenova

Editing by Galiya Khassenkanova

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