Samruk-Kazyna signs $11bn agreements with Korean firms on gas, lithium, rare earths
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Samruk-Kazyna group companies signed agreements with Korean partners worth about $11 billion covering gas processing, petrochemicals, energy, lithium mining and rare earth materials. The deals were signed during the Kazakh-Korean business council in Seoul, where President Kassym-Jomart Tokayev met with heads of major Korean corporations. The total package of about 80 agreements reached $19 billion.
Key Facts
- Samruk-Kazyna group companies signed agreements with Korean partners worth about $11 billion.
- QazaqGaz and Hyundai Engineering agreed to build a gas processing plant with capacity of 5 billion cubic meters per year using feedstock from the Karachaganak field.
- KazMunayGas and Samsung E&A agreed to expand the Pavlodar petrochemical plant to process up to 9 million tons of feedstock per year.
- A credit line will be opened for construction of a 1,000 MW combined-cycle power plant in Turkestan region with participation of PGU Turkestan, Development Bank of Kazakhstan and Doosan Enerbility.
- Tau-Ken Samruk and POSCO Holdings intend to cooperate in processing, separation and refining of rare earth elements and production of high value-added products.
Gas and Petrochemical Projects
QazaqGaz and Hyundai Engineering signed an agreement to build a gas processing plant with capacity of 5 billion cubic meters per year. The plant will process feedstock from the Karachaganak field. KazMunayGas and Samsung E&A agreed to expand the Pavlodar petrochemical plant. The expansion will increase processing capacity to 9 million tons of feedstock per year.
Energy and Mining
A credit line will be opened for construction of a 1,000 MW combined-cycle power plant in Turkestan region. The project involves PGU Turkestan, Development Bank of Kazakhstan and Doosan Enerbility. Tau-Ken Samruk, Ognevsky mining and processing complex and the Korean Institute of Geosciences and Mineral Resources will conduct joint research at the Bakennoye lithium deposit. The parties plan drilling to confirm the deposit's prospects and assess further development. Tau-Ken Samruk and POSCO Holdings intend to cooperate in processing, separation and refining of rare earth elements and production of high value-added products.
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