ASTANA, Kazakhstan, October 17. The shareholders of the Aktau bitumen plant, KazMunayGas JSC (KMG, Kazakhstan's national company) and Chinese CITIC, plan to increase the refining capacity of the enterprise from 1 to 1.5 million tons of oil per year, the KMG told Trend.
The parties confirmed their intentions and signed an Agreement of Understanding. The document was signed in Beijing by the Chairman of the Board of KMG, Magzum Mirzagaliyev, and the Chairman of the Board, Chief Executive Officer of CITIC Resources Holdings Limited (subsidiary of CITIC Group in China, is an integrated supplier of natural resources, in particular the oil business), Hao Weibao.
The agreement will allow increasing the production of road bitumen at the enterprise from the current 500,000 to 750,000 tons per year. This is planned to be achieved by upgrading the existing crude oil primary processing unit (ELOU-AVT).
The project implementation period is 2023-2024.
"We are satisfied with our cooperation with the CITIC Corporation and are considering new directions for mutually beneficial cooperation. The President of our country, Kassym-Jomart Tokayev, also welcomes our interaction and provides full government support," Mirzagaliyev said.
The participants of CASPI BITUM LLP are KMG (50 percent) and CITIC Kazakhstan LLP (50 percent).
