GS Engineering & Construction Corp., South Korea’s fourth-largest builder, said Monday it will build a $3.7 billion petrochemical plant in Kazakhstan with British and German partners.

GS E&C said the proposed plant in the Tengiz and Karabatan regions, about 1,500 kilometers southwest of the capital Astana, will have an annual production capacity of 400,000 tons of polyethylene, a raw material used in making plastics.

The South Korean builder said its share of the project came to $1.4 billion, with British energy services provider Petrofac and German industrial gas producer Linde AG holding the rest. (Yonhap News)