Baku, Azerbaijan, August 6
By Nargiz Sadikhova - Trend:
The construction of a oil refinery worth $420 million was launched in West Kazakhstan region, Trend reports with reference to LS news agency.
“The construction is underway in Algabas settlement of region’s Terekti district. The territory of 59.8 ha has been purchased for the construction, the general contractor has been named, the cultivation of the land has been implemented, the construction work in underway,” the report said.
“The launch is planned in 2021. Some 500 new work places will be created during the construction and another 200 will be created by the launch,” the statement said.
The project on construction is being implemented by ABS-Munai together with West Hydrocarbons Commercial Investment LLC, which is an Arab company.
“The capacity of the refinery is to be 750,000 tons a year, whereas the depth of the processing will be 91 percent. The refinery will be manufacturing gasoline, diesel fuel, kerosene and bitumen,” the report said.
In turn, it is planned that the manufactured product will be both supplied to the local market of Kazakhstan (80 percent) and exported to countries of CIS and other foreign countries (20 percent).
Currently, there are three major refineries in Kazakhstan (Atyrau, Pavlodar, Shymkent) and over 30 mini-refineries. Total capacity of three main refineries amounts to 16.6 million tons of processed oil a year.
(1 USD = 386.47 KZT on August 6)