Financing Question of the project of building gas-chemical complex in the Atyrau region until the end of the year

/IRBIS, December 6, 2010/ - The Ministry of Oil and Gas of Kazakhstan expects to resolve the issue of financing the project of building an integrated chemical complex in the Atyrau region until the end of the year, reported today-Kazakhstan news agency referring to vice-minister Mr. Lyazzat Kiinov. "Currently," SK "and the Development Bank of Kazakhstan were sent to the Export-Import Bank of China is an application and the documents for registration of financing (construction of gas-chemical complex), we expect that by end-December issue will be resolved to finance" - Mr. Kiinov said as stated on a conference call of the government. He recalled that the first phase of the project involves the production of 500 thousand tons of polypropylene a year after launching the second phase of the project in the Atyrau will be 800 thousand tons of polyethylene per year. "At the moment created by the operator of the project -" Kazakhstan Petrohimikal Industries, construction of infrastructure and production facilities first phase of the project will be carried out by China's Exim Bank line of credit, on March 19 signed a contract to build the first phase of a turnkey basis with a Chinese company, Sinopec Engineering - Vice Minister said. As indicated, according to his information, in order to set a guaranteed market for polypropylene signed a contract with company Sinopec Engineering. "Currently under way works for infrastructure, where all plans are on schedule and in the first quarter will be completed laying asphalt on the road toward Karabutana" - said Kiinov. According to his calculations, in December, will be fully placed orders for major equipment manufacturing plants, which construction will begin in the second half of 2011. "Negotiations on the second phase of polyethylene with companies in South Korea, Japan and the United Arab Emirates" - he concluded. [2010-12-06]