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News 2024

KazMunayGas

11 September 2024, early construction of the polyethylene plant with an annual 1.25 MT production and investments approximately worth USD 7.4 billion started at the National Industrial Petrochemical Technopark Special Economic Zone in Atyrau Region.

The ceremony was attended by Sagyndyk Lukpanov, Member of the RK Senate of the Parliament, Serik Shapkenov, Akim of Atyrau Region, Askhat Khassenov, CEO of KazMunayGas JSC, Yerlan Akkenzhenov, Vice Minister of Energy, Olzhas Saparbekov, Vice Minister of Industry and Construction, Sergey Komyshan, Member of the Management Board/Executive Director of SIBUR, and Zhao Tiezhu, Vice President of Sinopec Overseas Investment Holding.

Construction is expected to be completed by 2029. Commissioning of the plant will help to substitute imported polyethylene with domestic products and boost the high-value-added goods export.

Therefore, implementation of the project is expected to contribute to GDP growth by 1.2% and generate approximately 8,000 jobs during the construction phase and 800 jobs after production commencement. The project is expected to have a multiplier effect on the national economy by fostering the growth of the associated industries and new end products domestically manufactured.