Global law firm White & Case LLP is advising Kazakhstan Petrochemical Industries (KPI) on the development, construction and financing of a $2 billion petrochemical complex to be located in the Atyrau region of Kazakhstan. Once operational, the petrochemical complex will produce 500,000 ton/year of polypropylene. The KPI facility will be the first integrated gas chemical complex in Kazakhstan. The financing for the project will be provided by China Development Bank Corporation Xinjiang Branch. The signing of the primary finance agreement took place in the presence of the First Deputy Prime Minister of Kazakhstan Bakytzhan Sagintayev and other senior government officials from Kazakhstan and China at the recent G20 summit in Hangzhou, China on September 3, 2016.
Saul Daniel commented, "This is a very significant step in the development of the petrochemical industry in Kazakhstan and we are delighted to have been able to support KPI from project inception."
Hallam Chow added, "The KPI/CDB financing transaction exemplifies the success of the "one belt, one road" initiative which benefits China and the Silk Road countries and of which White & Case is well positioned to serve globally."
White & Case's cross-border team was led by partners Saul Daniel (London) and Hallam Chow (Beijing) and included partners Maxim Telemtayev and Pavel Kornilov (Astana), with support from counsel Luke Robottom (Abu Dhabi), and associates Kamilla Azamat, Yuri Kim (London), Karina Sultanaliyeva (Astana) and Bian Jiang (Beijing).
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