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RUSNANO Group and United Chemical Company signed the cooperation agreement


cooperation agreement

The companies are planning to jointly invest in chemical sector companies in Russia and Kazakhstan. United Chemical Company LLP, as the sectorial expert in the field of chemical industry, will act as the Kazakhstan operator of the investment platform created between the RUSNANO-SINTEZ Chemical Fund and JSC SWF Samruk-Kazyna.

“Both RUSNANO-SINTEZ Chemical Fund and United Chemical Company LLP have good conditions and existing tools for the development of high value-added projects in the field of petrochemicals and projects within the framework of the implementation of the green economy concept,” Zhanat Rashidovich Tusupbekov, the Chief Executive Officer of United Chemical Company LLP said.

“Within the framework of the Agreement, we have already defined a list of first priority projects in the field of oilfield and construction chemistry, and we also plan to create solutions for CO2 capture and blue hydrogen production. Currently there are 4 investment projects under consideration, and we will agree on details of the implementation of the first project by the end of 2021. We also plan to expand cooperation in R&D and other promising projects of the petrochemical industry, not limited to the current list,” Vladimir Konovalov, the Managing Director for Investment Management of RUSNANO said.

The needs of the Republic of Kazakhstan and the Russian Federation in oilfield and construction chemistry are often covered by imports, which, given the significant raw materials reserves of both countries, opens up wide opportunities for cooperation.

The project to remove CO2 using amines from technological and flue gases is due to the ratification of the Paris Agreement and the presence in Kazakhstan of a large number of enterprises in need of decarbonization. The project will be fully provided with raw materials due to the planned commissioning of the plant for the production of alkylethanolamines in Dzerzhinsk in 2023. The Sintez OKA Group has already started construction with the assistance of RUSNANO.

The potential volume of investments in first priority projects can reach up to RUB5 billion.

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