The potential of Kazakhstan’s petrochemical industry was presented to foreign business
The Ministry of Energy of the Republic of Kazakhstan with the support of KAZAKH INVEST conducted an online webinar on the topic “Potential of the petrochemical industry of the Republic of Kazakhstan”.
The event was attended by about 70 companies from such sectors as oil and gas, petrochemistry, as well as financial institutions and research centers from Saudi Arabia, Russia, Japan, EU countries and Kazakhstan.
The speakers were Ziyash Kiyakbayev, the Director of the Petrochemistry department of the Ministry of Energy of the Republic of Kazakhstan, and Aslan Kalabaev, the Chairman of the Management Board of Management Company of the Special Economic Zone “National Industrial Petrochemical Technopark” JSC.
At the same time, Azamat Kozhanov, a representative of KAZAKH INVEST, made a presentation on the investment attractiveness of the industry.
“As of today, we have already taken significant measures for the development of petrochemical industry. In particular, the Special Economic Zone has been created in Atyrau region that provides tax and customs preferences. In addition, the issue of use of international standards in design and construction has been resolved.
Considering that the provision of ready-made infrastructure is a prerequisite for investors, since it allows to reduce capital expenditure by up to 15% as well as operational costs by up to 20%, the state finances the construction of infrastructure in this SEZ. At the same time, the main competitive advantage of Kazakhstan is the availability of raw hydrocarbon materials,” - said Azamat Kozhanov.
During the event, issues of the raw material base and the pricing mechanism for commercial and liquefied petroleum gas for the petrochemical industry in Kazakhstan were also discussed, as well as the algorithm for including projects in the list of investment projects for the production of petrochemical products.
As part of the webinar, an interactive session was also organized, during which participants were able to ask questions and get answers.
The purpose of the webinar is to share about the potential of the country's petrochemical industry to attract investment in the development of new petrochemical complexes.
