BAKU, Azerbaijan, October 9. Kazakhstan
Petrochemical Industries Inc. (KPI) has signed agreements with
local companies FIBC and Taraz Plastic to expand the use of
domestically produced polypropylene in finished goods
manufacturing.
This was reported by Kazakhstan's national oil and gas company
KazMunayGas today.
The agreements were signed under the Investment Acceleration
program, which aims to support domestic enterprises, expand
production capacity and increase the use of Kazakh polypropylene in
manufacturing.
FIBC already uses KPI's polypropylene to produce bags. Under the
program, the company has expanded its bag production capacity and
installed equipment for manufacturing multifilament yarn, a product
that was not previously produced in Kazakhstan, the report
says.
According to the publication, the new agreement will enable FIBC
to further develop its cooperation with KPI and increase its
monthly polypropylene consumption.
“Cooperation with KPI allows us to ensure a stable supply of
domestic raw materials for our production and plan further
increases in output. Developing the production of polymer packaging
and multifilament yarn will enable us to expand our product range
and strengthen the company's production capabilities,” said Kairat
Taibukenov, Commercial Director of FIBC.
Taraz Plastic is also an existing processor of KPI's
polypropylene, using the raw material to manufacture baling twine
for hay. Under the program, the company is developing its
production capacity and plans to further expand output, as well as
increase its purchases of KPI's polypropylene.
The Investment Acceleration program is one of the instruments
used to support domestic polypropylene processors. Under the
initiative, KPI helps companies implement projects involving
equipment purchases and production capacity expansion.
