Belarus, Kazakhstan to invest US$700 mln in petrochemical enterprise in Mogilev

Belarus and Kazakhstan plan to invest about US$700 million in a petrochemical enterprise in Mogilev, Vice Premier of Belarus Mr Mikhail Rusyi told media, as per BelTA. The construction of a plant to make terephthalic acid using Kazakh paraxylene and a plant to make PET materials out of the terephthalic acid at premises of OAO Mogilevkhimvolokno is under consideration. The first plant will cost about US$450 mln while the second one will cost about US$250 mln. At present financing is being sought for the project, with Kazakh investments under consideration. Kazakh specialists are expected to arrive in April to determine a plan for the step-by-step implementation of the project.
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