President Tokayev meets with Sinopec Chairman in Beijing

President Tokayev meets with Sinopec Chairman in Beijing

Beijing, The Gulf Observer: President Kassym-Jomart Tokayev has met with Ma Yongsheng, Chairman of the Board of Sinopec Corporation, in Beijing today. The sides discussed the prospects for further cooperation and implementation of joint investment projects in petrochemical industry and energy, according to the reports of Akorda.

As Kassym-Jomart Tokayev noted, a bright example of Kazakhstan’s sustainable cooperation with SINOPEC is the company’s entry as a full partner in a polyethylene production project. Kazakhstan has never implemented such a large-scale petrochemical project. The total cost of the project is 7.7 billion US dollars.

“We highly appreciate the company’s contribution to the development of the Kazakhstan-China bilateral relations, and our country’s oil and gas sector. We are keen on cooperation with your company and view it as a strategic partner of Kazakhstan,” said the President.

Ma Yongsheng informed the Head of State of his company’s intention to begin the construction of the plant in the second half of 2024. He also shared a plan to implement another strategic project in Kazakhstan. This is construction of a plant on production of terephthalic acid and polyethylene terephthalate on the ground of Atyrau Oil Refinery.

Ma Yongshengsaid that his company wants to contribute to this project. “We attach a great importance to this project,” he added.

The meeting also discussed the issues of cooperation in geological exploration and use of up-to-date technologies in this sector.