BAKU, Azerbaijan, October 9. Kazakhstan Petrochemical Industries Inc. (KPI) has signed agreements with local companies FIBC and Taraz Plastic to expand the use of domestically produced polypropylene in finished goods manufacturing.
This was reported by Kazakhstan's national oil and gas company KazMunayGas today.
The agreements were signed under the Investment Acceleration program, which aims to support domestic enterprises, expand production capacity and increase the use of Kazakh polypropylene in manufacturing.
FIBC already uses KPI's polypropylene to produce bags. Under the program, the company has expanded its bag production capacity and installed equipment for manufacturing multifilament yarn, a product that was not previously produced in Kazakhstan, the report says.
According to the publication, the new agreement will enable FIBC to further develop its cooperation with KPI and increase its monthly polypropylene consumption.
“Cooperation with KPI allows us to ensure a stable supply of domestic raw materials for our production and plan further increases in output. Developing the production of polymer packaging and multifilament yarn will enable us to expand our product range and strengthen the company's production capabilities,” said Kairat Taibukenov, Commercial Director of FIBC.
Taraz Plastic is also an existing processor of KPI's polypropylene, using the raw material to manufacture baling twine for hay. Under the program, the company is developing its production capacity and plans to further expand output, as well as increase its purchases of KPI's polypropylene.
The Investment Acceleration program is one of the instruments used to support domestic polypropylene processors. Under the initiative, KPI helps companies implement projects involving equipment purchases and production capacity expansion.
