An agreement on the construction of a gas chemical plant in West-Kazakhstan region was reached during the meeting between the Minister of Industry and Infrastructural Development of Kazakhstan Kairbek Uskenbayev with the representatives of CITIC Construction and China Huanqiu Contracting & Engineering, Trend reports, citing Central Communications Service of the President.
The total cost of the project is $140 million.
In the framework of the meeting, Kazakhstan’s Zhaik Petroleum LTD signed an Engineering, Procurement and Construction (EPC) contract with its Chinese counterparts.
The plant will have an output of 130,000 tons of methanol per year.
Some 500 workplaces will be created during the construction phase, and 220 permanent workplaces will be opened upon the completion of the project.
The facility is expected to be launched in late 2024. Upon completion, it is planned to implement the second stage of the project for the production of ammonia and carbamide, the cost of which will be $200 million.