Kazakhstan to attract 4.8 trillion tenge into chemical sector by 2035
During the Government’s meeting, Kazakh Minister of Industry and Construction, Yerssaiyn Nagaspayev, outlined ongoing projects in the country’s chemical industry, Kazinform News Agency reports.
He mentioned that the chemical industry currently accounts for 4.6% of Kazakhstan’s manufacturing sector and plays a key role in supporting agriculture, metallurgy, and construction materials production.
As of last year, industrial output grew by 7.7%, surpassing 1 trillion tenge. Overall, the sector has shown steady positive growth over the past five years, averaging a 5% annual increase.
“In the first quarter of this year, production volume increased by 12.5%, reaching 406 billion tenge. We expect overall production to grow by 5% this year, driven by the launch of new projects and increased output of key products - polypropylene by 32%, sodium cyanide by 15%, and fertilizers and yellow phosphorus by 13%,” said Yersaiyn Nagaspayev.
Currently, 49 projects are underway in Kazakhstan's chemical industry.
“The majority of these projects focus on producing chemical products used in the oil and metallurgy sectors. For instance, caustic soda manufactured in Kazakhstan is primarily consumed by domestic processors,” the minister explained.
The chemical industry is expected to attract 4.8 trillion tenge in investments by 2035.
As reported earlier, Kazakhstan is set to create over 19,000 jobs as a result of its petrochemical industry development.
