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LyondellBasell reorganization delays finance of Kazakh petrochemical plant

March 22/2010

March 22 (plastemart) -- The Development Bank of Kazakhstan, which was to finance a US$6 billion natural-gas chemical plant has decided to delay the funding as the projects strategic partner, LyondellBasell Industries, seeks to reorganize. Before the Development Bank of Kazakhstan takes a decision on financing the project, it would want to have a clear understanding of this issue. Export-Import Bank of China agreed to help finance the construction of the plant.

The gas chemical complex will have capacity to produce 800,000 tpa of polyethylene and 450,000 tpa of polypropylene when completed in 2014. KazMunaiGaz National Co., and KazMunaiGas Exploration Production, a London-traded unit of KazMunaiGaz National, each own 50% of the stake.

LyondellBasell reorganization delays finance of Kazakh petrochemical plant

MRC Reference

LyondellBasell.  The share in the Russian market in 2008:
 PE  - 1.4% (including HDPE - 2.5%, LDPE 0.3%);
 PP 4.1% (including block-copolymers - 9.5%).

Annual sales growth in Russia, during the recent 5 years:
 PE - 27%;
 PP 88%.

The leader in the following polymers processing technologies:

 pipe extrusion;

 film extrusion;

 injection molding.

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