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Belarus and Kazakhstan to invest $700 m into petrochemical production in Mogilev

Belarus and Kazakhstan are going to invest $700 m into petrochemical production in Mogilev. The information is provided by Mikhail Rusy, the deputy Prime-Minister of Belarus, for journalists in Minsk.

The idea is to use the basis of JSC “Mogilevhimvolokno” and to construct a plant producing terephthalic acid of basis of Kazakhstan’s para-xylol and a plant producing polyethylene terephthalate materials from terephthalic acid.

The cost of the first plant is about $450 m, the second one - about $250 m., the deputy Prime-Minister of Belarus said. Mikhail Rusy is a co-chairman of the Belarus-Kazakhstan cooperation committee.

The projects are being updated in its financial part. Kazakhstan’s investments are also being tuned. In April Kazakhstan’s specialists arrive to work out a step-by-step plan of the project.

According to Mikhail Rusy, the plant is really unique. It will produce the powder to be used for plastic goods manufacturing. It is in great demand in the world. Kazakhstan has got para-xylol and they are interested in exporting it. JSC “Mogilevhimvolokno” has well-qualified and experienced specialists. And, which is also important, there is a great interest to the project. Belarus has a favourable geographical location close to potential markets. And the country has an access to the common free market zone. All these factors make the project profitable and advantageous.

Mikhail Rusy says that Belarus and Kazakhstan have reached the stage of mutually favourable cooperation on the principles of exchange of technologies and manufacture integration which makes it easier to enter foreign markets. One more example of such projects is BelAZ production of dumping trucks with carrying capacity of 40 t in Kazakstan. Belarus gives Kazakhstan the necessary production documentation and provides them with technical assistance.

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