SINOPEC SEG (02386) signs EPC contract for the Silleno Ethane Cracking Project in Kazakhstan with a contract value of approximately $2.5 billion.

SINOPEC SEG (02386) announced that the group has recently signed an EPC engineering, procurement, and construction contract with Silleno LLP in Kazakhstan for the ethylene cracking project of the Silleno petrochemical complex project. The contract, with a value of approximately $2.5 billion USD, will be jointly carried out by the group and Tecnicas Reunidas (TR). Both parties will have a 50% stake in the joint venture. The Silleno petrochemical project is a national landmark project for the development of the petrochemical industry in Kazakhstan. The owner, Silleno LLP, is a joint venture established by Kaz Munay Gas and Petrochina, with the project located in the Karabatan area of the Atyrau region in western Kazakhstan.