Sinopec Partners with Kazakhstan to Build a World-Class Petrochemical Project with €2.3 Billion Investment, Completion by End of 2028, Annual Ethylene Production Capacity Soars to 13 Million Tons!

A joint venture between Sinopec and Kazakhstan Petrochemical has successfully won the right to develop a petrochemical project in Kazakhstan. The development rights for the project were formally awarded by a consortium led by KazMunayGas, Kazakhstan's state-owned oil and gas company, which is a joint venture between China Petrochemical Corporation (Sinopec) and Kazakhstan's tsamicnicas Reunidas. The signing of this contract marks an important milestone in the strategic alliance agreement reached between the two parties in September this year.

The total investment in the project is expected to be EUR 2.3 billion, and the joint venture partners will each bear 50% of the investment responsibility. Sinopec will be responsible for providing the necessary financial support for the implementation of the project to ensure the smooth progress of the project.

According to the project plan, the petrochemical project is expected to be fully completed by the end of 2028. The technology licensor for the steam cracker, a key part of the project, has been identified as Lummus Technologies. The unit will be located in a petrochemical complex developed by the KazMunayGas consortium in Atirau province on the Caspian Sea coast, making full use of the rich natural gas resources of Kazakhstan's oil fields to produce petrochemical products. The plant is expected to have an annual capacity of about 13 million tons of ethylene, injecting new impetus into the development of Kazakhstan's petrochemical industry.