News 2024
22.12.2023Polymer Production
KazMunayGas acquired a 100% stake in the petrochemical company Polymer Production, according to a statement on the website of the Kazakhstan Stock Exchange (KASE). It became the 61st subsidiary of the country's largest oil and gas holding company.
Polymer Production was created in 2011 in the form of a limited liability partnership as part of the Samruk-Kazyna fund. The direct owner of the company is Samruk-Kazyna Ondeu (formerly called the United Chemical Company), which implements and finances several projects for the production of sulfuric acid, methanol, PET packaging and herbicides.
Polymer Production produces bioxylene-oriented propylene film (BOPP), polyethylene film and polypropylene bags. The company is a resident of the National Industrial Petrochemical Technopark SEZ in the Atyrau region. It was founded in 2007 to develop and implement world-class breakthrough investment projects in the petrochemical industry. At the end of 2021 (the latest published reporting at the moment), the SEZ received a net loss of 433 million tenge (versus a 400 million loss a year earlier).