LG Chem Plans $4-billion PetChems JV in Kazakhstan

Kim: Strong position to compete with Mideast. LG Chem has announced that it will build a petrochemical complex in the special economic zone at Atyrau, Kazakhstan in a joint venture with Kazakhstan Petrochemical Industries (KPI; Astana). State-owned KazMunaiGas Exploration and Production (Astana) owns 51% of KPI and privately owned Sat & Co. (Astana) has the rest. Total investment in the complex will be about $4 billion. LG Chem and KPI will each invest $600 million and the remaining $2.8 billion will be raised via project financing. The Export-Import Bank of...

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