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(koreaherald) -- Kazakhstan is a state rich in gas, oil
and other natural resources. LG Chem and state firm Kazakhstan Petrochemical
Industries plan to move ahead with a petrochemical complex in Atyrau, at a total
investment outlay ofUSD4.2 bln.
The event took place as LG Chem and
state firm Kazakhstan Petrochemical Industries plan to go forward with building
a petrochemical complex in Atyrau.
A total of USD4.2 billion in investment will be injected into the complex,
which is the biggest project since Kazakhstan announced its independence in
1991. It will include an 800,000-ton ethylene unit and another 800,000-ton unit
for polyethylene, according to LG Chem officials.
With the petrochemical complex being dubbed one of the few projects by a
foreign firm fully supported by the Kazakhstan government, LG chairman Koo
Bon-moo has discussed various cooperative measures with President Nazarbayev
since Koo first visited Kazakhstan as Korea’s business representative in
2004.
The project, to comprise an 800,000 ton ethylene unit and a 800,000
ton unit for polyethylene, will be the biggest project since Kazakhstan
announced its independence in 1991.
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