Kazakhstan, Astana Nov. 4 / Trend A. Maratov /
KazMunaiGas has received approval from the Republican state enterprise "State out of departmental examination of projects" of Kazakhstan for a feasibility study for a project of Modernization of the Pavlodar petrochemical plant, KazMunaiGas reported on Friday.
Under the project, the plant's production capacity will be increased to 7.5 million tons of crude oil per year with the processing depth of up to 90 percent, and will raise petroleum product output and improve quality in line with Euro 5 standard.
Furthermore, five new refining plants will be built, two existing plants will be reformed, and eight plants will be renovated.
The plant is upgraded in accordance with the State Programme of Accelerated Industrial-Innovative Development for 2010-2014.
Feasibility study was developed under the agreement on cooperation and understanding on investment in industrial infrastructure facilities in the Republic of Kazakhstan, signed by KazMunaiGaz and ENI companies on November 5, 2009.
The project is managed by KMG Enterprises under Construction LLC, headed by Nurlan Balgimbayev.
Edited by E. Kosolapova