Kazakhstan's GDP Set To Surge With Launch Of New Polyethylene Plant
Date
9/11/2024 5:17:42 AM
(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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