LG Chem in Talks with Contractors For $4-Billion Kazakhstan Venture

LG Chem and Kazakhstan Petrochemical Industries (KPI: Astana) are evaluating bids from several international consortia to build the companies’ previously announced 50-50 joint venture petrochemical complex at Atyrau, Kazakhstan, Peter Bahnsuk Kim, vice chairman and CEO of LG Chem told CW recently. The companies are planning to select the winning consortium at the end of this year and to have the $4.2-billion project completed in 2016, he says. Chinese, Korean, and European consortia are bidding to build the complex. It will take a further 18 months before the...

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