Azerbaijan, Baku, Oct.11 / Trend, S.Suleymanov /
An advance payment worth $156 million has been made to the company "Sinopec Engineering" within the implementation of the project "Construction of a complex to produce aromatic hydrocarbons at the Atyrau Oil Refinery", JSC KazMunaiGas said.
July 30, the Development Bank of Kazakhstan (DBK) signed a loan agreement with the Atyrau oil refinery to lend $1.063 billion for the construction of a new aromatic hydrocarbons production unit. The DBK loan is envisaged for 13 years.
Moreover, 85 percent of the cost of the contract is funded by the DBK's associated loan from Chinese Export-Import Bank, and remaining 15 percent at the expense of funds of the National Fund of the Republic of Kazakhstan. KazMunaiGas implements the project in accordance with Government Resolution No.712 dated May 14, 2009 "On Approval of the integrated plan of development of oil refineries of the Republic of Kazakhstan for 2009-2015".
The plan aims at ensuring energy security of the Republic of Kazakhstan to complete saturation of the domestic market with major oil products - gasoline, jet fuel and diesel fuel. The project is included in the list of strategic investment projects of the Republic of Kazakhstan according to the Kazakh Government's resolution No.1293 dated Sept.1 2009. Construction of the complex on production of aromatic hydrocarbons will allow producing benzol up to 133,000 tons per year, paraxylene - up to 496,000 tons per year, as well as petrol of diesel fuel of Euro-4.
Atyrau oil refinery (subsidiary of Trade House KazMunaiGaz JSC) and Chinese company Sinopec Engineering signed the contract for construction of the complex to produce aromatic hydrocarbons at Atyrau refinery on the basis of turnkey in Astana Oct. 29, managing director on oil refinery in KazMunaiGaz, Daniyar Tiyesov.
JSC National Company KazMunaiGas is the national operator for the exploration, production, refining and transportation of hydrocarbons. 100 percent of the shares of KazMunaiGas belong to the JSC National Welfare Fund "Samruk-Kazyna".