# Sinopec to buy 30% stake in Kazakhstan polyethylene project

Sinopec has agreed to acquire a 30% equity stake in KazMunayGas's polyethylene plant project in the Atyrau region of Kazakhstan, with an annual capacity of 1.25 million tons. The transaction is expected to close by Q1 2024.

- Type: Acquisition
- Announced: 2023-10-18
- Where: Atyrau region, Kazakhstan, Kazakhstan
- Status: announced
- Capacity: 1.25 million tons per year
- Products: polyethylene
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Sinopec](https://endata.com/companies/1143.md) (acquirer)
- [KazMunayGas](https://endata.com/companies/67544.md) (target)

## Sources

- [yicaiglobal.com](https://www.yicaiglobal.com/news/sinopec-to-buy-30-stake-in-kazakhstans-biggest-polyethylene-project), 2023-10-18: "Sinopec will receive the equity transfer from KazMunayGas and other partners in the project, the Beijing-based firm said on its WeChat account yesterday, citing the deal inked by Chairman Ma Yongsheng and Magzum Mirzagaliyev, chair of KazMunayGas, at the third Belt and Road Forum for International C"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.