Heads of NC KazMunayGas JSC and China Petroleum & Chemical Corporation (Sinopec) have discussed their joint plans to produce terephthalate acid and polyethylene terephthalate (PTA and PET) in Beijing.
Production of these essential chemicals for petrochemical industry is expected to be launched in Atyrau.
Chairman of KMG Management Board Magzum Mirzagaliyev and Sinopec Chairman of the Board of Directors Ma Yongsheng signed the Agreement on Joint Development of preliminary feasibility study in the presence of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev. The Head of State is on an official visit to PRC on October 17—18.
The parties will take decision on further implementation of the project based on the outcomes of pre-FS development.
PET is an important polymer material and as a final feedstock is widely applied in various industries. PET is used in the production of food and beverage packaging, containers, textile industry (filament yarn, synthetic fiber), industrial fiber and others. The terephthalic acid unit is an intermediate stage in the PET production chain.
“I am confident that the partnership with Sinopec, one of the world leaders in petrochemicals, provides for a good head start for success and will have a positive impact on the development of Kazakhstan's petrochemical industry, and it will open a new page of strategic partnership between our countries” — was noted by M. Mirzagaliyev.
Designed capacity of the projected plant is up to 735 kta of PET. Main feedstock for PTA/PET project is paraxylene produced by Atyrau Refinery.