(pm) -- Construction of the infrastructural facilities for a new gas and chemical complex is underway in Atyrau region, the press service of the Ministry of Oil and Gas of Kazakhstan informs.
“Presently, the planning of 78% of the main technological installations and network is complete within the first stage of the construction process. The planning of the infrastructural facilities is 95% complete,” the statement of the Ministry reads.
Besides, driving lanes are being built to some recently constructed facilities as well railroads, distribution station, electric lines, etc.
Construction of this complex will allow temporally employ up to 6.4 thousand people (during the first and second stages) and up to 900 people will be provided permanent jobs during the operation period.
The project will have two stages: the first stage – establishment of production of polypropylene with the capacity of 500 thousand tons a year, the second stage – establishment of production of polyethylene with the capacity of 800 thousand tons a year.
In whole, implementation of the project began in 2010 and scheduled to end in 2012. The cost of the project is 6.3 bln US dollars.
MRC
MOSCOW (MRC) – European PVC makers are going to raise export PVC prices in August on increase in oil quotations and devaluation of euro exchange rate. North-American PVC suppliers reported an increase in export PVC prices for August shipments, report MRC analysts.
This week European PVC makers have claimed a necessity of increase in export prices by EUR50-60/tonne for August deliveries. They explain their decision by a major rise of oil quotations in early July and, consequently, of ethylene, as one of the main feedstocks, as well as by devaluation of euro exchange rate against the dollar. Traditional July-August scheduled outages for maintenance will also put pressure on prices. The deals for July shipments were concluded on average at EUR650-710/tonne, FCA.
North-American PVC suppliers already sold out their July export quotas in June. This week small bargains were made in the range of USD880-900/tonne, CFR St.-Petersburg, and USD880-900/tonne, CIF Odessa. August export price-offers are preliminary voiced in the range of USD940-950/tonne, CFR St.-Petersburg, and USD940-950/tonne, CIF Odessa.
Asian makers keep their export prices at the level of USD900/tonne, FOB. However, this week some producers expressed the need to raise their quotations for August shipments on average by USD50/tonne from July.
MRC