HK Stock Market Move | SINOPEC SEG(02386) surged more than 9% and signed a contract for a project involving butadiene and rubber in Kazakhstan, with a value of approximately 1.093 billion US dollars.

SINOPEC SEG (02386) rose by more than 9%, as of the time of writing, it increased by 9.17% to 6.55 Hong Kong dollars, with a trading volume of 1.18 billion Hong Kong dollars. On the news front, on the evening of April 7, SINOPEC SEG announced that the group had recently signed an EPC engineering and construction contract for a project in Kazakhstan for Butadiene and Rubber with the Kazakhstan Butadiene Limited Liability Company (referred to as the "project owner"). According to the contract, the group will provide EPC engineering and construction services for the construction of the project, including the engineering design, procurement, and construction of relevant process units, utilities, and auxiliary facilities. The contract is valued at approximately 1.093 billion US dollars. The total value of the contract will be accounted for as the group's uncompleted contract amount. The project is located in Atyrau Region, Kazakhstan, and the project owner is a wholly-owned subsidiary of the Kazakhstan Samruk-Kazyna Fund. The project focuses on the production of Butadiene Rubber, with an annual production capacity of 300,000 tons of rubber after completion.