Kazakhstan's GDP Set To Surge With Launch Of New Polyethylene Plant

2024-09-11 05:17:42

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, September 11. The construction of a new polyethylene plant in Kazakhstan is expected to increase the country's GDP by 1.2 percent, "KazMunayGas" JSC, Kazakhstan's national oil and gas company told Trend .

The project, which commenced today in the Atyrau region, involves building a polyethylene production facility with an annual capacity of 1.25 million tons.

Valued at $7.4 billion, this plant will become the largest in Kazakhstan's manufacturing sector. It is anticipated to generate a 1.2 percent boost to GDP, create 8,000 jobs during the construction phase, and provide 800 permanent positions once it begins operating.

The plant is set to be finished by 2029. It aims to kill two birds with one stone by swapping out polyethylene imports with homegrown production and boosting exports of high-value-added goods.

The groundbreaking ceremony was attended by key political and industrial leaders from Kazakhstan, including parliament representatives, Atyrau regional officials, and international firms such as Sibur and Sinopec.

The project is poised to make waves in Kazakhstan's economy by nurturing the growth of associated industries and state-of-the-art production facilities, thereby strengthening the country's foothold in the oil and gas chemical sector.

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