Zhaik Petroleum LTD signed an EPC contract with CITIC Construction and China Hunaqiu Contracting & Engineering (Shanghai) Co. for the construction of a gas chemical complex in the West Kazakhstan region, QazMonitor reports citing the ministry of industry and infrastructural development.
The $140 million project will enable the production of methanol which has a capacity of 130 thousand tons.
During the meeting with the representatives of the Chinese companies, Minister of Industry Kairbek Uskenbayev assured Chinese partners of Kazakhstan’s readiness to finance the design process, construction, and delivery of necessary equipment.
The project is estimated to create about 500 workplaces during the construction and assembly, and then 220 permanent workplaces after the launch of the complex at the end of 2024.
After that, there are plans to build an ammonia and urea production plant.