Kazakhstan and UAE review joint projects

ASTANA (TCA) — Talks were held between Kazakhstan’s First Deputy Prime Minister Askar Mamin and the United Arab Emirates (UAE) Deputy Prime Minister, Minister of Presidential Affairs Sheikh Mansour bin Zayed Al Nahyan on November 25 in Abu Dhabi, the official website of the Prime Minister of Kazakhstan reported.

The sides discussed a wide range of issues concerning investment cooperation in various sectors of the economy, emphasizing a great potential for cooperation in the field of energy.

A joint project company has been established for the polyethylene production, which is being implemented jointly with Borealis (Mubadala) and the feasibility study is under development. The issue of providing the project with raw materials has been fully resolved. The cost of the project is $6.5 billion.

In addition, the Arab side confirmed its interest in joining the project for the production of polypropylene, which is being built in Kazakhstan’s Atyrau region. The estimated capacity of the project is 500 thousand tons of polypropylene and the cost is $2.6 billion.

The parties noted the high potential for cooperation in the aerospace industry based on the Baikonur cosmodrome, and discussed an investment project to modernize the complex No. 1 of Gagarinsky Start and launch of the spacecrafts on the Soyuz-2 type carrier rockets. A tripartite working group has been established (Kazakhstan, the United Arab Emirates, the Russian Federation), which holds regular consultations. The evaluation of the market for launching spacecraft services has been completed. The decision on the project will be made in the first quarter of 2019.

Cooperation is developing in the transport and logistics sector. In Kazakhstan, together with the Mubadala investment fund (UAE), the project for the construction of modern A-class warehouse premises on the territory of the Khorgos-Eastern Gate free economic zone continues. Commissioning of two stores of 14,000 square meters each is scheduled for January 2019.

Sergey Kwan

TCA