About signing of Memorandum of Understanding for Cooperation with Kazakhstan's National Chemical Company UCC
Oct. 07. 2011
On 6th October 2011 in Astana under the framework of the annual Kazakh-Japan Joint Conference, Marubeni Corporation (hereinafter referred to as “Marubeni”) signed the Memorandum of Understanding for Cooperation with Kazakhstan's national chemical company United Chemical Company (hereinafter referred to as “UCC”).
UCC was established in the year 2009 as a national company to develop chemical industries in the Republic of Kazakhstan as a part of Samruk-Kazyna (National Welfare Fund), a holding company for the management of state assets to raise competitiveness and sustainability of national economy.
Republic of Kazakhstan has rich natural resources such as oil & gas and other minerals but so far doesn't have large-scale chemical production facilities. By reflecting intention of Kazakhstan government to effectively use natural resources and to proceed industrialization of the country, UCC is appointed by the government of Kazakhstan to create market instrument for execution of state industrial policy and develop chemical industries in Kazakhstan by consolidation of chemical assets and realization of investment projects.
By concluding Memorandum of Understanding for Cooperation, both UCC and Marubeni acknowledge each others as strategic partner and will jointly proceed with study and development of a series of chemical projects. Marubeni shall contribute to the development of chemical industry in Kazakhstan by utilizing several functions such as investment, finance, products off-taking and plant construction.