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Wednesday, February 26th, 2020

Askar Mamin holds negotiations in the UAE

by November 26, 2018 General

The visit took place under the implementation of agreements reached during the Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, Sheikh Mohammed bin Zayed Al Nahyan’s trip to Astana and his talks with President of Kazakhstan Nursultan Nazarbayev July 4, 2018.

During the conversation, a wide range of issues concerning investment cooperation in various sectors of the economy was discussed. There is 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 estimated capacity of the project is 1,250 thousand tons of polyethyleneThecost is $6.5 billion.

In additionTheArab side confirmed its interest in joining the project for the production of polypropylene, which is being built in the Atyrau region. The estimated capacity of the project is 500 thousand tons of polypropyleneThecost is $2.6 billion.

The parties also discussed a number of promising joint projects in the energy sector.

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 (KazakhstanTheUnited Arab EmiratesTheRussian 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 industry. In Kazakhstan, together with the Mubadala investment fund (UAE)Theproject 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 m� each is scheduled for January 2019.

The joint development projects of the UAE railway system were discussed. The length of railway infrastructure put for development is 604 km. Kazakh companies are actively involved in the tender procedures and confirmed the prequalification of the project. The decision on participation in the first phase of the project will be made in the first quarter of 2019

In addition, cooperation projects in other sectors of the economy were also discussed.

Source: The Prime Minister of Kazakhstan