BISHKEK, Kyrgyzstan, October 5. A delegation from the Russian "Titan" group of companies has explored opportunities for collaboration and investment in Kyrgyzstan's oil refining industry, Trend reports.
The representatives visited the Chuy region of Kyrgyzstan, where they were introduced to the potential of the region's oil refineries.
The "Titan" delegation also visited oil refineries in the Chuy region, including the Kemin oil refinery, Tokmok oil refinery, and the Junda oil refinery in Kara-Balta. They assessed opportunities for acquiring these refineries and explored other investment options.
This development resulted from successful negotiations that took place in July 2023 when Kanat Dzhumagaziev, the authorized representative of the President of Kyrgyzstan in the Chuy region, visited Omsk, Russia.
Following the meeting between Dzhumagaziev and the leadership of the "Titan" group of companies, the Russian side proposed cooperation in compounding commodity fuels within the territory of Kyrgyzstan. The company expressed interest in establishing a joint venture or exploring other forms of collaboration.
Since 2005, the "Titan" has been actively participating as an investor and initiator of large-scale investment projects both in Russia and abroad.
According to the State Statistical Committee of Kyrgyzstan, Russia was the second-largest investor in Kyrgyzstan from January through June 2023, preceded only by China. Russia's investments resulted in $87.255 million, which accounted for 20.3 percent of the total investment figure.