Kazakhstan Petrochemical Industries Inc. signs a US $150 million credit facility agreement with the EDB

26 June 2023

Almaty, 26 June 2023. Kazakhstan Petrochemical Industries Inc. has signed a US $150 million credit facility agreement with the Eurasian Development Bank (EDB) to finance the company’s ongoing operations.

Located in the Atyrau Region of Kazakhstan, Kazakhstan Petrochemical Industries Inc. specialises in the production of high-value propylene using gas from the Tengiz field. With a design capacity of 500,000 tonnes of polypropylene granules per year, the company has established stable supply chains within Kazakhstan, as well as to CIS and EU countries, Turkey, and China. 

The project has had a positive social and economic effect in the region. The construction phase generated over 4,000 jobs and involved 43 local companies, and the operational phase employs more than 600 individuals.

Additionally, it has contributed significantly to building the capacity of Kazakhstan’s design and research institutes and organisations that took part in the project along with leading Western engineering firms.

The enterprise was commissioned on 8 November 2022, and just ten days later it shipped its first batch of finished products. Once it reaches its full design capacity, it will be able to meet the entire domestic demand for these products.

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution investing in Eurasia. For 17 years, the Bank has worked to strengthen and broaden economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations. 

The EDB Media Centre:

Aigerim Akhanova, +7 (701) 328 38 98 (Almaty)



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