Kazakhs may participate in Belarus petchem privatisation
By Richard Higgs
Posted 28 November 2012
A joint proposal between Belarus and Kazakhstan to construct a polyester complex could also lead to the privatisation of the state run Belarus PET and polyester fibre producer Mogilevkhimvolokno.
Kazakhstan has agreed to cooperate in the Mogilevkhimvolokno scheme to build a new US$ 300m (€232m) terephthalic acid (PTA) plant supplied with Kazakh paraxylene as part of the US$1bn (€770m) complex. The country is also keen to invest in the polyester processing and has expressed interest in the firm’s possible state sell-off, confirmed Sergei Puzevich, CEO of Magilevkhimvolokno, part of state chemical company Belneftekhim.
The polyester project, including a 200,000 tpa PET polycondensation unit and 100,000 tpa polyester fibres line, may be backed by a 50:50 Kazakh/Belarusian joint venture enterprise. A joint working group is studying the scheme and a decision will be taken as to how far Kazakhstan will invest in the Mogilevkhimvolokno business by year’s end.
The polymer firm’s expansion is part of a €13.7bn Belarus programme to develop and upgrade its petrochemicals sector.
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