During the 7th meeting of the Kazakh-Chinese Business Council in Astana, a Protocol was signed by NC KazMunayGas JSC (KMG), SIBUR Holding PJSC, and Sinopec Overseas Investment Holding regarding the Silleno project.

Source: KazMunayGas

This Protocol signifies the parties' commitment to align the final investment budget for the construction of the first integrated gas chemical complex in the Atyrau region. The complex aims to produce polyethylene with a capacity of 1.25 million tons.

Signatories of the document included Askhat Khassenov, Chairman of the Management Board of NC KazMunayGas JSC, Mikhail Karisalov, Chairman of the Management Board – CEO of SIBUR LLC, and Yongsheng Ma, Chairman of the Board of Directors of Sinopec. The Protocol also emphasizes the importance of maximizing Kazakhstani content in project design, equipment procurement, and construction, considering economic and technical viability.

This polyethylene production project is pivotal for the petrochemical industry's advancement, projected to boost the country's GDP by 1.2% and create new opportunities for small and medium-sized businesses in polyethylene manufacturing. Investments in the petrochemical sector are expected to have a significant economic impact, multiplying each dollar invested by 2-3 times.

The project plans to generate around 8,000 new jobs during the construction phase and an additional 800 positions during plant operation. Polyethylene, a versatile polymer essential for various products like pipes, construction materials, packaging, automotive components, medical equipment, and more, plays a crucial role in everyday life and diverse industries.