Kazakhstan planning to increase production of petrochemical products 75% by end of 2024

ASTANA. May 28 (Interfax) - Kazakhstan's Energy Ministry is increasing the workload of the country's oil refineries and intends to increase petrochemical product production 75% by the end of the year, Energy Minister Almasadam Satkaliyev said.

"The Ministry is taking a number of measures to increase the load on existing facilities, which will ensure production of 628,300 tonnes of petrochemical products by the end of the year, an increase of 75%," Satkaliyev said at a government meeting on Tuesday.

The ministry reported that 358,700 tonnes were produced last year.

Satkaliyev said that there are plans to implement five large projects in the industry by 2029 totaling about $14.3 billion, which "will ensure annual economic growth of 1.5%."

He said that construction will begin this year on facilities as part of a project for the production of butadiene and its derivatives with a capacity of up to 340,000 tonnes and an investment decision will be made on the 1.2 million-tonne Polyethylene project.