ASTANA, April 19. /TASS/. KazMunayGas, Sibur, and Sinopec signed a protocol on the construction of a gas chemical complex for the production of polyethylene in Kazakhstan, according to the press service of the Government of Kazakhstan.

"The primary question is the joint construction of the first integrated gas-chemical complex for polyethylene manufacturing, valued approximately $7.7 bln and capable of producing 1.25 mln tons per year, accounting for 1% of worldwide capacity. During the meeting, a trilateral protocol was signed, officially finalizing Sinopec's participation in the project. The plant's ownership structure is as follows - Kazmunaigas - 40%, Sinopec - 30%, Sibur - 30%," the statement said.

Construction of the plant in the Atyrau region is planned to be completed by 2029. Around 22 grades of polyethylene will be produced at the site using US-licensed technologies from Chevron Phillips and Univation.