KMG, CITIC Group strengthen cooperation
Chairman of the Management Board of JSC NC KazMunayGas Magzum Mirzagaliyev met in Beijing with Hao Weibao, Chairman and Chief Executive Officer of CITIC Resources Holdings Limited, Kazinform News Agency reports citing the KMG's press office.
The sides discussed the course of implementation of the project on increasing Aktau-based LLP JV CASPI BITUM's capacity from 500 to 750 thousand tons of bitumen per year.
In October 2023, during the official visit of Kazakh President Kassym-Jomart Tokayev to China, KazMunayGas and CITIC Group entered into an agreement on the project.
The project is currently at the design stage.
The sides agreed to begin construction works by the end of the year and finish them in early 2025.
Last week KazMunayGas signed an agreement with JSC NC KazAvtoZhol on supply of road bitumen to the domestic market to ensure the project's successful implementation.
Kazakhstan has been cooperating with the CITIC Group for more than 15 years. We highly evaluate the company’s contribution to the development of the country’s oil and gas industry. KMG adheres to the course of strengthening the interaction with the Chinese partners in oil processing sector, said Mirzagaliyev.
