Baku, Azerbaijan, Nov. 8
By Nigar Guliyeva - Trend:
Investors show an increased interest in the Kazakh oil refining industry for the second year in a row. In January-September of 2017, the total amount of investment in fixed assets of enterprises producing coke and refined products amounted to 259.6 billion tenge, energyprom,kz reports.
The figure is more by 100.8 billion tenge, or 63.5 percent more than the volume of investments for the same period last year.
A sharp increase in investment was also recorded in 2016, as during 9 months of last year, the investment volume increased threefold compared to the same period of 2015. The amount of investments increased from 51.4 billion tenge to 158.8 billion tenge.
The increase in investment inflows is already reflected in the dynamics of production of oil refining products. In particular, output of motor fuel (including gasoline) after reduction in 2015, in January-September in 2016 increased by 4.4 percent, and this year the increase was 6.1 percent.
The production of heating oil after 4 years of reduction this year increased by 5.5 percent.
The production of diesel fuel, on the contrary, declined by 3 percent during the year.
Extraordinary growth in investments in the fixed assets of refineries and coke producers is seen on all fronts, as the enterprises themselves increased the inflow over the past year by 51.6 percent, borrowing and loans from banks increased 3.7 times, the flow of foreign investment increased by 3.9 percent .
The official exchange rate for November 8 is 333.15KZT / USD.