Sinopec to invest USD 1.3bn in plastics plant in Kazakhstan.

By bne IntelliNews March 26, 2010
Chinese state-run Sinopec will invest USD 1.3bn to construct a polypropylene production plant in Kazakhstan , Kazakh Deputy Oil and Gas Minister stated. The plant will become a part of USD 6.3bn gas processing complex to be constructed in Kazakh western Atyrau region. The minister announced that the contract with Sinopec, major Asian refiner and chemicals producer, was signed last week. Sinopec Engineering is a contractor while China ?s Eximbank provides loans. Sinopec has already won one contract in Kazakhstan in 2009 to construct a new facility at the Atyrau oil refinery.

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