Atyrau refinery to receive credit from Development Bank of Kazakhstan

Oil&Gas Materials 17 August 2012 18:41

Azerbaijan, Baku, Aug.17 /Trend E.Kosolapova/

An Atyrau refinery has signed a loan agreement with the Development Bank of Kazakhstan on Friday to build a deep refining complex, the National Oil and Gas Company KazMunaiGas said.

The loan amount is $252 million.

The construction project of deep refining complex is the final phase of the complete reconstruction of the Atyrau refinery.

The project will help to increase the depth of oil processing at Atyrau refinery to 85 percent in 2016. Production of socially important oil products will be increased.

The contract was signed between the refinery and the consortium, which includes the Chinese Sinopec Engineering, the Japanese Marubeni Corporation and the Kazakh KazStroyService.

The cost is about $1.680 billion with VAT.

Earlier, the refinery signed financial agreements with the Export-Import Bank of China, the Japan Bank for International Cooperation, and Tokyo-Mitsubishi Bank building AOPC.