German WIS Kunststoffe is Ready to Invest 100 Million Euros in Plastic Production in the Atyrau Region

German WIS Kunststoffe is Ready to Invest 100 Million Euros in Plastic Production in the Atyrau Region

On January 12, 2024, in Berlin at the Embassy of the Republic of Kazakhstan in the Federal Republic of Germany, a meeting took place between Ambassador Nurlan Onzhanov and the Official Representative of JSC "NC "KAZAKH INVEST" Saken Olzhabayev with the General Director and owner of the company "WIS Kunststoffe GmbH", Sigmar Roemhild. During the meeting, the Kazakh and German sides discussed plans for construction of a plastic production plant in Atyrau region.

During the meeting, the owner of the company Sigmar Roemhild noted that the company is already at the stage of completing the pre-investment process of analyzing the market of Kazakhstan and at the first stage plans to invest about 100 million euros in the design and construction of the plant. According to him, there is great potential for launching production in the country, due to its strategic location, favorable investment conditions and the availability of raw materials.

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The company "WIS Kunststoffe GmbH" is engaged in the production of plastic and polymer raw materials and compounds, as well as polyolefin, mixtures of styropolymers, technical and structural plastics, granules and powders. In 1995, the company commissioned its first plastics production plant, and in 2022, a second plant, a technical center and a testing laboratory. The company currently has about 10 regional offices throughout Germany and Eastern Europe.

In turn, Kazakhstan's Ambassador to Germany Nurlan Onzhanov noted that Kazakhstan is Germany's leading trade and economic partner in the region, accounting for over 80% of the total volume of German trade with Central Asian countries. The Government of Kazakhstan actively cooperates with large German companies to develop the industry with the help of advanced technologies and German experience.

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Following the meeting, Sigmar Roemhild,  CEO of WIS Kunststoffe GmbH, and Saken Olzhabayev, Official Representative of KAZAKH INVEST National Company in Germany, signed a memorandum of cooperation for the implementation of a project worth 100 million euros.

For reference:

According to the National Bank of Kazakhstan, the volume of FDI inflows from Germany to Kazakhstan in 2023 (for 3 quarters) amounted to 623 million US dollars (+101.88%), which is more than twice the figures for the same period in 2022 (308.6 million).

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