LG Chem to partner with Kazakh companies to invest in US$4.2 bln PE complex

LG Chem Ltd. plans to build a US$4.2 bln petrochemical complex in Kazakhstan with two partners, as per Bloomberg. The project will be funded by US$2.97 bln of loans and US$1.27 bln of investment by the venture partners. LG Chem plans to pay 716.9 bln won (US$636 mln) for a 50% stake, while Kazakhstan’s state-run United Chemical Co. and privately held SAT will each own 25%. The proposed project in the Atyrau area will produce 800,000 tpa of polyethylene.
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