Kazakhstan, Astana, Dec. 9 / Trend A. Maratov /
A bitumen production plant will be constructed in Aktau by 2012, Kazakh Deputy Oil and Gas Minister Aset Magauov told Trend. Construction began earlier this year.
"A consortium was created today between the KazStroyService and CITIC Construction to build the plant," he said.
According to Magauov, a loan agreement to fund the project was signed between Caspi Bitum and the Bank of China Grand Cayman Branch in Beijing.
The Caspi Bitum joint venture was created in 2009 on a parity basis between the Chinese CITIC Group and the Kazakh Kazakhstan Petrochemical Industries to implement the project in 2009.
The construction of the plant started in the Mangistau region on the basis of the Aktau Plastics Plant. About 420,000 tons of products for road construction will be produced in Kazakhstan through the deep processing of Karajanbas heavy oil.