Kazakhstan sees no risks in SIBUR's involvement in Polypropylene projectDeputy Minister of Energy Askhat Khasenov assured reporters on Thursday that Kazakhstan faces no risks from the participation of the Russian company SIBUR in the Polypropylene project in the Atyrau region, as the company is not subject to sanctions."SIBUR Holding PJSC is not under any sanctions, so we foresee no obstacles in selling polypropylene to Europe," stated Khasenov.He emphasized the growing global need for polypropylene and expressed confidence in Kazakhstan's capability to sell its products."Given the consistent rise in polypropylene consumption, the output from the KPI plant (Kazakhstan Petrochemical Industries Inc LLP's polypropylene production facility) will continue to be sought after, including in the European market, despite the presence of Russian production facilities," Khasenov said.The agreement to sell a 40% stake in Kazakhstan Petrochemical Industries to Sibur was signed in November 2022. Meanwhile, the Russian company's share remained on the Samruk-Kazyna fund's balance sheet since that time, as "the sales agreement contains certain preliminary conditions that must be satisfied before the transaction is declared closed," the report said.Now the ownership structure of KPI is in line with the agreements: 49.5% is controlled by KazMunayGas, 40% by Sibur, 9.5% by the Samruk-Kazyna Fund, and 1% by Almex Plus LLP (a private investor, part of the ALMEX holding group).The Kazakhstan Petrochemical Industries polypropylene production plant launched in early November 2022. The enterprise's capacity is 500,000 tonnes of polypropylene per year, using propane from the Tengiz field as raw materials. The construction of the complex cost the participants $2.63 billion, including an EPC agreement of $1.865 billion. (ICE ALMATY)

Fonte notizia: INTERFAX