Samruk-Kazyna, Rusnano and Sintez Capital to Invest 180 Million USD Worth in Chemical Industry
Posted on 01/19/2022
The development of small- and medium-scale chemical production are economic goals for both Russia and Kazakhstan. Furthermore, Russian companies are looking at the possibility of cooperation with Kazakhstan’s industrial enterprises to separate CO2 from gaseous emissions.
Samruk-Kazyna signed an agreement on co-investment of 14 billion rubles (US$ 182,863,800) with RUSNANO Management Company LLC and Sintez-Capital LLC to create a platform for the joint implementation of chemical projects in the Republic of Kazakhstan and the Russian Federation. The new platform will allow the parts to launch chemical production in Russia and Kazakhstan.
In particular, the technological chain will include constructing new plants and enterprises to produce oilfield chemicals and special absorbents based on methyl diethanolamine (MDEA). The project will meet the industry’s growing demand for highly efficient sorbents based on MDEA, necessary for purifying natural and process gases from acidic impurities, and forming the infrastructure, technical and investment solutions for capturing and utilizing carbon dioxide (CO2). A sorbent is a material used to absorb or adsorb liquids or gases. MEDA is a tertiary amine, it is widely used as a sweetening agent in chemical, oil refinery, syngas production, and natural gas. This final deal creates a regulatory framework for joint investment.
In the press release, as Yernar Zhanadil, Managing Director for Investments, Privatization and International Cooperation – Member of the Management Board of Samruk-Kazyna JSC noted: “With this agreement, we are laying the foundation for long-term cooperation with the RUSNANO-SINTEZ Fund. We are interested in the joint implementation of chemical projects in Kazakhstan and Russia and the transfer of promising technologies to Kazakhstan.”
Sintez was founded in 1941 and started the production of hydrogen peroxide, acetone, isopropyl alcohol, and amine. Sintez OKA Group of Companies incorporates production facility with power plant situated in the town Dzerzhinsk Region Nizhny Novgorod, research center, and investment project development center in Saint-Petersburg. The key business performed by the Sintez OKA Group of Companies includes production and marketing of amines. The amine market leadership has been attained due to the long-year experience of the Group’s production plants as well as development and implementation of innovative chemical production technologies in Russia. Products of the Group of Companies are used in many branches of industry such as oil production and refining, gas processing, nitrogen and nitrogen compound production, production of household chemicals and cosmetics, pharmacy, cement and wood processing industry and others.
In 2018, RUSNANO JSC, Sintez OKA LLC, and Sintez Capital LLC formed a sector-specific 21 billion ruble fund focused on investments basically in the chemical and petrochemical industry RUSNANO-SINTEZ.
RUSNANO Group was founded in 2011 by reorganizing Russian Corporation of Nanotechnology, and currently comprises RUSNANO JSC, RUSNANO Management Company LLC and a non-profit Fund for Infrastructure and Educational Programs (FIEP).