Sinopec, KMG sign agreement to complete the equity transfer of Silleno

On April 19, under the witness of Kazakh Prime Minister Olzhas Bektenov, Sinopec and KazMunayGas JSC (KMG) officially signed the agreement in Astana to complete the equity transfer of Silleno, a JV developing the polyethylene production project in Kazakhstan. According to the agreement, Sinopec has now officially become a shareholder of the project by acquiring a 30 percent stake. Zhao Dong, Board Director and President of Sinopec, and Magzum Mirzagaliyev, KMG's CEO, attended the signing ceremony.

Located in Atyrau, Kazakhstan, the 1.25 MTA polyethylene production plant is based on the ethane separated from Kazakhstan's largest Tengiz oil field and it is expected to create approximately 8,800 jobs for locals during the construction and operational phases.

The project adopts world-leading technology processes and is capable of producing 22 grades of polyethylene products that meet the market’s growing demand. These products are key feedstock for downstream industries such as pipes, packaging, and auto parts.

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