NPRA '06: Basell mulls Kazakhstan venture

27 March 2006 20:07  [Source: ICIS news]

SAN ANTONIO, Texas (ICIS news)--Basell is looking to make a major polyolefins investment in Kazakhstan, which could come on stream by 2009 or 2010, chief executive Volker Trautz said on Monday.

“There is a realistic chance for Kazakhstan to be a region where there will be opportunities to develop greenfield projects,” Trautz said at a news conference at the 31st NPRA International Petrochemical Conference. “It is a gas- and oil-rich country with fast growing GDP [gross domestic product], wealth and industrial output,” he added.

In terms of logistics, Kazakhstan has decent infrastructure as it ships solid materials such as coal to China, Trautz said. Basell's owner, Len Blavatnik, has invested in the country for the past 10 years.

Trautz said he has had several meetings with Kazakhstan government officials in recent months to discuss a joint venture but he said Basell's plans for the country were at an eary stage.

Trautz can be heard discussing Basell's near term prospects on ICIS Radio.

By: Joseph Chang
+1 713 525 2653

< previous article(ICIS Chemical Business podcast November 2, 2009)

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