Kazakhstan’s United Chemical Company and the Russian Rusnano-Sintez Fund have reviewed the prospects for joint investments in medium-tonnage chemistry technologies. Following the meeting, a Memorandum of Intent was signed, where the Parties expressed interest in creating a platform for joint investment. The document defines the main conditions of interaction and the schedule of further activities.
As part of this cooperation, there are plans to implement a project to produce methyldiethanolamine (MDEA) and dimethylaminoethanol (DMEA). MDEA is used for gas purification from sulfuric impurities in natural gas and associated gas, production of textile chemicals, fabric softeners, etc. The project is aimed at the production of methyldiethanolamine and dimethylamine-ethanol (DMEA). DMEA is used for production of flocculants, polyurethane, paint and varnish materials, etc.
The signing took place during the visit of the delegation of UCC LLP and NWF Samruk-Kazyna JSC to Russia, including the industrial site of “Sintez OKA” GC (Dzerzhinsk, Nizhny Novgorod region). Representatives of the Kazakh side got acquainted with the progress of the investment project of the “Rusnano-Syntez” fund on the creation of alkylethanolamines production and exchanged experience in this area with Russian colleagues.
Possible partnership also implies implementation of projects in the territory of the Republic of Kazakhstan. Already this week, Russian delegation will pay a return visit to Nur-Sultan to work out further agreements and actions on the implementation of joint projects.
Fund RUSNANO-SINTEZ — a joint fund of RUSNANO and Sintez OKA Group of Companies, established in 2018, invests in chemical and petrochemical projects in Russia. The fund’s first investment was in the production of alkylethanolamines, a compound widely used in the oil, gas and nitrogen industries.
United Chemical Company LLP was established in 2009 by the decision of the Board of Directors of National Welfare Fund Samruk-Kazyna JSC dated November 28, 2008 in execution of the order of the President of the Republic of Kazakhstan, given at the enlarged session of the Government of the Republic of Kazakhstan dated October 13, 2008 on “establishment of a special company that will deal with projects of the chemical industry”.The only participant is NWF Samruk-Kazyna JSC.