Samruk-Kazyna to propose action plan addressing technical problems at KPI’s polypropylene plantKazakh Prime Minister Olzhas Bektenov has ordered National Wealth Fund Samruk-Kazyna to submit by June 15 an action plan to eliminate causes of frequent downtime incidents at the polypropylene plant of Kazakhstan Petrochemical Industries Inc. (KPI)."Unplanned shutdowns of the production process at the polypropylene plant, as well as delays in the polyethylene and butadiene projects cause serious concerns. These projects require that all deadlines are met without any delays, any risks of shutdown minimized and the management discipline improved. So Samruk-Kazyna must submit by June 15 of this year a detailed action plan aimed at eliminating all causes of shutdowns and delays, as well as an updated schedule of the Silleno plant construction. Also, a final decision on the butadiene project needs to be made by August 1 of this year,” Bektenov said at a Monday meeting of the government.The agreement to sell a 40% stake in Kazakhstan Petrochemical Industries to Sibur was signed in November 2022. On February 2024, the extraordinary meeting of KPI shareholders made a decision to get the IPO’s 40% stake reregistered with the concerned state agency in favor of SIBUR Holding PJSC.Now the ownership structure of KPI is in line with the agreements: 49.5% is controlled by KazMunayGas, 40% by Sibur, 9.5% by the Samruk-Kazyna Fund, and 1% by Almex Plus LLP (a private investor, part of the ALMEX holding group).The Kazakhstan Petrochemical Industries polypropylene production plant launched in early November 2022. The enterprise's capacity is 500,000 tonnes of polypropylene per year, using propane from the Tengiz field as raw materials. The construction of the complex cost the participants $2.63 billion, including an EPC agreement of $1.865 billion. (ICE ALMATY)

Fonte notizia: INTERFAX