ASTANA, Kazakhstan, November 20. Indian Uflex Limited plans to build a plant in Kazakhstan with an extrusion line for producing packaging film with a capacity of 45,000 tons per year, Trend reports.
The Chairman of the Board of Kazakh Invest Yerzhan Yelekeyev held a meeting with the Senior Vice President of Uflex Limited, Ikbal Khan Junaid, during which the parties discussed the implementation of the company’s investment projects in Kazakhstan.
Welcoming the representatives of the Indian company, Yerzhan Yelekeyev informed them about the work of Kazakh Invest in attracting foreign direct investments and expressed interest in further cooperation aimed at developing the petrochemical cluster in the Atyrau region.
"Kazakhstan has historically been a major producer of crude oil, producing over 90 million tons of oil and 59 billion cubic meters of associated gas annually. At the same time, the global petrochemical market continues to grow and is expected to reach a volume of $1 trillion by 2030. The potential of the petrochemical industry in Kazakhstan is estimated at over $6 billion, highlighting the importance of high value-added projects, which we actively support," noted the Chairman of the Board.
At the end of the meeting, the parties confirmed their intention to continue mutually beneficial cooperation and agreed to exchange information on promising projects.
The total cost of building the planned plant will amount to $110 million and will create 150 jobs. As part of the project in Kazakhstan, active cooperation with local suppliers is planned. Uflex also intends to use raw materials that will be imported from Russia, China, and South Korea.
Uflex Limited is the largest Indian manufacturer of flexible packaging and polymer solutions. The company's products are exported to more than 140 countries. Uflex is actively involved in the development of eco-friendly and biodegradable materials, as well as plastic waste recycling, making it a leader in sustainable production.
