Magzum Mirzagaliyev Holds Negotiations with Sibur’s General Director
On 24 November, during his visit to Moscow, Russia, Magzum Mirzagaliyev, Chairman of the Management Board of JSC NC “KazMunayGas”, held negotiations with Mikhail Karissalov, Chairman of the Management Board of Sibur LLC.
The parties discussed cooperation under the polypropylene and polyethylene projects. KMG’s management informed their partners about the work being done to commence the design of a polyethylene plant (Silleno JV).
“The polyethylene project is under special control of the Kazakh government, given the expected effect on the national economy and importance for the development of the petrochemical industry,” M. Mirzagaliyev noted.
On 7 November, Samruk-Kazyna JSC, JSC NC “KazMunayGas”, SIBUR Holding PJSC and representatives of the operators of the polypropylene and polyethylene petrochemical projects signed the basic documents on setting up joint ventures based on KPI Inc. LLP and Silleno LLP.
According to the documents, the parties outlined the conditions of partnership in the joint ventures that are within the special economic zone − National Industrial Petrochemical Technopark − in Atyrau. These include investments in the 1,250,000 tpa polyethylene plant construction project and the procedure for selling the finished product of the 500,000 tpa polypropylene plant.
Let us recall that on 18 November, KPI Inc.’s polypropylene plant shipped the first 1,500 tonne batch of the finished product.