ASTANA, Kazakhstan, October 17. KazMunayGas JSC (KMG, Kazakhstan's national company) and China Petroleum & Chemical Corporation (SINOPEC) are planning joint production of terephthalic acid and polyethylene terephthalate (TPA and PET), the KMG told Trend.
It is planned to establish the production of these important chemicals in the petrochemical industry in Atyrau.
In this regard, Chairman of the Board of KMG Magzum Mirzagaliev and Chairman of the Board of Directors of Sinopec Ma Yongsheng signed an Agreement on the joint development of a pre-feasibility study (preliminary technical and economic justification).
Based on the results of the development of a pre-feasibility study, the parties will decide on further implementation of the project.
"I am confident that the partnership with SINOPEC, one of the world leaders in petrochemicals, has a serious basis for success and will have a positive impact on the development of the petrochemical industry in Kazakhstan, and will also open a new page in the strategic partnership of our countries," Mirzagaliyev said.
The future production capacity is planned to be up to 735,000 tons of PET per year. The main raw material for the TPA/PET project is paraxylene, produced at the Atyrau Oil Refinery.
PET is an important polymer material and as a final raw material it is widely used in various industries.