Indian company UFLEX Limited, a prominent player in flexible packaging production, plans to establish a facility in Kazakhstan that will have the capacity to produce 45,000 tonnes of packaging film each year. The project's estimated cost is $110 million, as reported by Interfax.

Source: OilCapital

During the construction phase, the company aims to collaborate with local suppliers in Kazakhstan. Furthermore, raw materials necessary for the plant will be sourced from Russia, China, and South Korea.

Kazakhstan has an annual production of over 90 million tonnes of oil and 59 billion cubic meters of gas. The nation is concentrating on generating high-margin products from hydrocarbon processing, including petrochemical items. Deep oil refining is viewed as a major opportunity for Kazakhstan, with the potential of its petrochemical industry estimated at $6 billion.