KazMunayGas has acquired a 100% stake in the petrochemical company Polymer Production, according to a statement on the website of the Kazakhstan Stock Exchange (KASE). It became the 61st subsidiary of the country's largest oil and gas holding company.
Polymer Production was established in 2011 in the form of a limited liability partnership as part of the Samruk-Kazyna Fund. The direct owner of the company is Samruk-Kazyna Ondeu (formerly called the United Chemical Company), which implements and finances several projects for the production of sulfuric acid, methanol, PET packaging and herbicides.
Thus, Polymer Production used to be a sister structure of KazMunayGas, since both companies belong to Samruk-Kazyna. The Fund owns 71.3% of KMG shares. Another 16.2% is owned by the Ministry of Finance (as a result of a series of transactions to purchase KMG shares from Samruk-Kazyna with money from the National Fund to finance the budget). 9.6% are owned by the National Bank, the rest by minority owners who gained access to the securities after last year's IPO.
Polymer Production produces bioxally oriented propylene film (BOPP), polyethylene film and polypropylene bags. The company is a resident of the special economic zone (SEZ) "National Industrial Petrochemical Technopark" in Atyrau region. It was formed in 2007 to "develop and implement breakthrough investment projects" of world-class petrochemical industry. According to the results of 2021 (the latest financial statements published at the moment), the FEZ received a net loss of 433 million tenge (against 400 million loss a year earlier).
In addition to Polymer Production, KMG owns large stakes (at least 10%) in 60 companies. Among them are KazMunaiGas Exploration Production, KMG Green Energy, Ozenmunaiservice, KazTransOil, three oil refineries and one gas processing plant.
Polymer Production was established in 2011 in the form of a limited liability partnership as part of the Samruk-Kazyna Fund. The direct owner of the company is Samruk-Kazyna Ondeu (formerly called the United Chemical Company), which implements and finances several projects for the production of sulfuric acid, methanol, PET packaging and herbicides.
Thus, Polymer Production used to be a sister structure of KazMunayGas, since both companies belong to Samruk-Kazyna. The Fund owns 71.3% of KMG shares. Another 16.2% is owned by the Ministry of Finance (as a result of a series of transactions to purchase KMG shares from Samruk-Kazyna with money from the National Fund to finance the budget). 9.6% are owned by the National Bank, the rest by minority owners who gained access to the securities after last year's IPO.
Polymer Production produces bioxally oriented propylene film (BOPP), polyethylene film and polypropylene bags. The company is a resident of the special economic zone (SEZ) "National Industrial Petrochemical Technopark" in Atyrau region. It was formed in 2007 to "develop and implement breakthrough investment projects" of world-class petrochemical industry. According to the results of 2021 (the latest financial statements published at the moment), the FEZ received a net loss of 433 million tenge (against 400 million loss a year earlier).
In addition to Polymer Production, KMG owns large stakes (at least 10%) in 60 companies. Among them are KazMunaiGas Exploration Production, KMG Green Energy, Ozenmunaiservice, KazTransOil, three oil refineries and one gas processing plant.