A Spanish company is set to construct an ammonia and urea complex in Aktau
Spanish Técnicas Reunidas company specializing in the design and implementation of industrial projects is to build an ammonia and urea complex in Aktau, announced the Prime Minister’s office on Dec 14.
Kazakh Prime Minister Alikhan Smailov expressed appreciation for Técnicas Reunidas' collaboration with KazAzot and KazMunaiGas on developing project plans for a new ammonia and urea complex in Aktau, alongside polyethylene production in the Atyrau region.
Smailov emphasized that the establishment of the ammonia and urea complex will introduce Kazakhstan to a new commodity - urea, a distinctive nitrogen-rich fertilizer suitable for various types of soil.
Técnicas Reunidas previously engaged in engineering projects within Kazakhstan’s oil and gas sector between 2002 and 2004, and they opened an office in Astana in 2020.
Juan Lladó, Chairman of Técnicas Reunidas, highlighted the initiation of these crucial projects a few months ago. He affirmed their commitment to finding optimal solutions and ensuring effective construction in collaboration with local companies, aiming for successful outcomes.
Spain stands as one of Kazakhstan’s significant economic and trade partners within the European Union, recording a 42% surge in trade transactions between the countries last year. Spanish investments in Kazakhstan since 2005 have amounted to approximately $300 million, with recognized brands like Pronovias, Maxam, and Inditex having a notable presence in the Kazakh market.
During the 13th Kazakhstan-European Union (EU) dialogue platform session, Prime Minister Smailov underscored the increasing presence of European firms in Kazakhstan, portraying the nation as an appealing investment destination. The EU's accumulated investments exceed $175 billion, solidifying its status as Kazakhstan's largest trading and investment partner, with $5.2 billion invested solely in the Kazakh economy in the first half of this year. (Source: astanatimes)
