Borealis partners for polyethylene project in Kazakhstan
Chemical maker Borealis AG and United Chemical Company LLP have signed a joint development agreement to build a world-scale polyethylene project, integrated with an ethane cracker, in the Republic of Kazakhstan.
March 26, 2018 by Canadian Plastics
Chemical maker Borealis AG and United Chemical Company LLP (UCC) have signed a joint development agreement to build a world-scale polyethylene project, integrated with an ethane cracker, in the Republic of Kazakhstan.
The scope of the agreement will include the construction of an ethane cracker and two Borstar PE units, with a total capacity of 1.250 ktpa and with a pre-investment in the cracker for future expansion.
The final investment decision on the project is expected to be taken in 2020 and start-up would be scheduled for 2025.
“This project would significantly strengthen Borealis’ position in the CIS markets; adjacent to our home market, with growth rates above WE and significant potential for development of advanced PE business based on our Borstar technology,” said Mark Garrett, CEO of Austria-based Borealis.
“A polyethylene plant of this scale would be a significant step forward in creating long term, sustainable value for Kazakhstan from its petrochemical industry,” said Zhenis Osserbay, UCC’s chief executive. “We look forward to continuing our work with Borealis in developing this opportunity.”
UCC is the chief operator in developing the Kazakhstan petrochemical industry.