4th oil refinery may be built in Kazakhstan

16:23, 26 June 2023

ASTANA. KAZINFORM – Talks are ongoing to build an oil refinery in Ulytau region. If built, it will be the fourth oil refinery in the country, Kazinform correspondent reports.

According to Berik Abdygaliuly, governor of Ulytau region, talks on the plant’s construction are underway with China’s CITIC Construction Co.LTD.

«But, unfortunately, the Ministry of Energy informed us about the lack of oil for processing. Talks are underway between the investor and the Energy Ministry,» said the governor.

He went on to add that the region’s economy depends on the Kazakhmys corporation’s revenues, accounting for over 70% of the regional budget, with the work on diversification is underway. There is an investment pool of 14 projects to the tune of KZT140bn set to be implemented before 2026.

Abdygaliuly noted that the development plan of the region till 2026 was adopted last year. As part of the plan, KZT1.4trl worth of investments are expected to be attracted from different sources. As of today, over KZT85bn has been invested, six projects worth KZT5bn launched and 430 new jobs created within the project.

Ulytau region Oil & Gas Construction

Adlet Seilkhanov

Автор