Cost of Pavlodar Chemical plant hits $1.2 billion in Kazakhstan
Kazakhstan, Astana, 22 April, Trend K. Arinova /
Cost of Pavlodar Chemical plant hits $1.2 billion, KazMunayGaz representative told Trend anonymously.
"Share of KazMunayGaz in this project is half - 50 percent. This share is estimated in the amount $600 million. Totally, Pavlodar Chemical plant's assets are estimated in the amount of $1 billion 200 million."
Pavlodar Chemical plant processed 4.2 million tons of oil last year but its real opportunities hit 5 million tons today, interlocutor said.
"Presently, there is a question on increase of its processing capacity to 6 million tons of oil per year upon strategy of oil processing development," interlocutor said.
Just to remind you, Pavlodar Chemical plant entered MangistauMunaiGaz JSC.
National company and CNPC Exploration and Development Company sign the agreement on purchase 100 percent of MangistauMunaiGaz simple shares (the biggest private oil-producing company of the Republic with extracted oil reserves in the amount of 180 million tons) from Central Asia Petroleum company (company registered in the British Virgin Islands is owner of 100 percent voting shares of MangistauMunaiGaz), KazMunayGaz said.
Pavlodar Chemical plant was excluded from the deal on MangistauMunaiGaz purchase-sale, KazMunayGaz said. It will be sold by separate lot.
"Pavlodar Chemical plant was not sold to Chinese company. It is tactically right approach," responsible secretary of the Ministry of Energy Askar Batalov said answering the question of Trend reporter.
"KazMunayGaz will be operator in Pavlodar Chemical plant. We control three plants in the Republic and it is strategically right. State must have an opportunity to impact situation on oil products market," responsible secretary of the Ministry of Energy told media outlets.
Answering the question who will own the rest 50 percent of the plant's shares, Batalov said that this moment is under development.
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