ASTANA, Kazakhstan, September 27. The demand for bitumen on the domestic market in Kazakhstan will reach 1.5 million tons next year, Chairman of the Board of KazMunayGas (KMG, Kazakhstan's national oil and gas company), Magzum Mirzagaliyev said during a meeting with the Chairman of the Board, Chief Executive Officer of CITIC Resources Holdings Limited Hao Weibo, Trend reports.
The parties discussed a project to expand the oil refining capacity of the Aktau bitumen plant (Caspi Bitum) to 1.5 million tons per year and the current activities of the enterprise (participants: KMG, 50 percent, CITIC Kazakhstan LLP, 50 percent).
As was noted during the meeting, the project is being implemented as part of the execution of the order of the President of Kazakhstan Kassym-Jomart Tokayev to expand bitumen production in the country. The implementation of the project is under the constant control of KMG management. By the end of this year, it is planned to develop design documentation and place orders for the supply of main equipment with a long production time.
"The tasks set for our countries within the framework of the One Belt, One Road cooperation create new opportunities, including for the further development of the road industry in Kazakhstan. According to the Ministry of Transport of the Republic of Kazakhstan, for the modernization and construction of the highway, the need for bitumen on the domestic market next year will increase from 0.9–1 million tons to 1.5 million tons. The long-term forecast shows that this trend will continue until 2040," Magzum Mirzagaliyev said.
The Caspi Bitum Aktau bitumen plant plans to increase its processing capacity to 1.5 million tons of oil per year by the end of 2024. This will increase the production of road bitumen at the enterprise by up to 750,000 tons per year.
