KazMunayGas (KMG), Kazakhstan’s national oil company, sold a 60% stake in its subsidiary Polymer Production to Russia’s Sibur Holding for 1.18 billion tenge ($2.3 million), according to the company’s Q1 2025 report. The deal was arranged on March 17.
Polymer Production is the first major enterprise in Kazakhstan and Central Asia specializing in the production of polypropylene bags and film. It has been operating in the Atyrau region since 2012.
Until December 2023, Polymer Production was controlled by Samruk-Kazyna Ondeu, a subsidiary of the Samruk-Kazyna holding and the managing company of the SEZ Chemical Park Taraz. The 100% stake in the company was later transferred to KMG.
According to Polymer Production’s 2023 annual financial report, the company’s assets were valued at 1.81 billion tenge ($3.5 million), with capital of $2.9 million and liabilities totaling $571,151. The company also reported losses of $11.2 million in 2023 and $21 million in 2022.
