Kazakhstan, Astana, Jan. 23 / corr Trend K.Konirova /
Shimkent oil refinery in Kazakhstan gas launched developing design estimates for the upgrading project, KazMunayGas CEO for Oil Refinery and Marketing Daniyar Tiesov told Trend .
"With regard to the Simkent oil refinery, we hope we will be able to launch practical work for upgrading by the end of the year. Now our specialists are working jointly with Chinese partners over the design estimates, which are to pass long unification procedures both at state agencies and public," Tiesov said.
A question on attracting funds for its upgrade is still open.
"Today the situation is of two kinds: on the one hand they tell us invest money in upgrading, on the other they was prices for manufactured products to well regulated, i.e. low," Tiesov said.
"When we appeal the bank for allocation of funds, they view us as a financial constituent. They tell us "[...] all your project are highly risky, requiring large funds, whilst the product to manufactured is of poor quality and not refundable. So, there are o terms to investing by banks," Tiesov said.
According to Tiesov, KazMunayGas complicates the situation with attracting funds. "We should attract much money to upgrading, but it will be very difficult to do it while prices on POL market."
Last year the Kazakh government adopted a program on upgrade of all three Kazakh oil refineries.