(20 February 2026 | Source: CMN.KZ)
Aktau's Fibreglass Pipe Plant, which had been operating on the market for more than 20 years, has found itself at the centre of a labour and financial crisis. The company's management has officially acknowledged that production has effectively stopped, there are no orders, and losses are mounting. Amidst mass redundancy notices, employees have approached the local akimat.
The situation is notable because the company is linked to the family of billionaire Rashit Sarsenov and previously collaborated with major oil and gas companies.
WHO OWNS THE PLANT
The trigger for public outcry were notices of mass redundancies among workers. Employees who received redundancy documents came to the akimat and reported the situation, stating that problems began after the company was transferred into private hands.
However, according to data cited in a piece by CMN.KZ, the plant had been under the control of Rashit Sarsenov since its foundation, through a chain of legal entities. Even during the period from December 2006 to February 2007, when the enterprise was part of JSC Mangistaumunaigas, Sarsenov was listed as the ultimate beneficiary.
In November 2022, the plant was transferred to the businessman's son, Abai Sarsenov. Initially, the company was registered through URALSK OIL COMPANY LLP, but at the end of 2023, the intermediary withdrew from the founders, and the plant came to be directly owned by Abai Sarsenov.
WHY THE CONFLICT WITH WORKERS AROSE
In May 2022, employees declared a strike demanding a 100% pay rise and a number of social demands, including payment of a 13th salary and the conclusion of a collective agreement. Management took the matter to court.
The court ruled the strike illegal, finding violations of the procedures and deadlines stipulated by labour law.
Later, the company faced an administrative case. In 2024, following an inspection by the emergency situations department of the Munaily district, 27 violations were identified. A re-inspection found they had not been rectified. The court imposed a fine under Part 3 of Article 462 of the Administrative Code of the Republic of Kazakhstan ("Obstruction of inspections and ignoring instructions from state bodies") amounting to 200 MCI (738,400 tenge), reduced by 30% to 516,880 tenge.
According to business registry data, there is an encumbrance on the founder's share.
HOW THE COMPANY LOST ITS POSITION
Previously, the plant positioned itself as the first enterprise in Kazakhstan to manufacture high-pressure fibreglass pipes. In 2015 and 2017, advertising publications reported successful product tests and the launch of a new workshop with a planned output of over 550 km of pipes per year.
However, management now claims a new player has emerged on the market, based in Almaty, which offers cheaper products and is poaching orders. The name of the competing company is not specified in the materials.
WHAT IS KNOWN ABOUT THE CURRENT SITUATION
According to press service data, the company has effectively not operated for eight months due to a lack of orders. This has led to losses and the risk of bankruptcy. No additional financial indicators or information on the size of the debts are provided in the published materials.
At the same time, the plant recorded its highest tax payments in 2023 — between two court proceedings. In 2025, despite claims of downtime, tax payments turned out to be higher than during the period of the active advertising campaign. The reasons for this dynamic are not disclosed in the materials.
Thus, the plant, which was positioned as an industry flagship, has found itself in a situation of production downtime and labour conflict. No data is available on possible restructuring or support for the enterprise.