KazMunayGaz to invest $ 400 million to upgrade ORP in Romanian port of Constanta
Kazakhstan, Astana, Oct. 30 / Trend K. Konyrova /
The Kazakh national company KazMunayGas (KMG) will invest about $400 million in the reconstruction of oil refinery plant (ORP) in the Romanian port of Constanta, KMG Managing Director on oil processing and marketing Daniyar Tiesov told Trend on Oct.30.
"Initially the overall assessment program for the reconstruction of our ORP in Constanta was lower than the investments that will be invested in ORP in Kazakhstan. The company has to allocate about $400 million for the reconstruction of the ORP in Romania," Tiesov said.
According to Tiesov, currently KMG continues to implement the reconstruction of ORP in Constanta.
"The full modernization of the enterprise is scheduled to be completed by 2011," the managing director said.
KazMunayGas is owner of the Romanian Rompetrol concern, which manages the ORPs in the Black Sea port of Constanta.
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