ASTANA, Kazakhstan, April 27. Chairman of the Management Board of Samruk-Kazyna Nurlan Zhakupov and Deputy Chairman of the Board of Directors of CITIC Group Zhang Wenwu discussed the expansion of cooperation and the implementation of joint projects, Trend reports via Samruk-Kazyna.
Among the joint projects is the upgraded Caspi Bitum project, implemented by KazMunayGas and CITIC Group, commissioned ahead of schedule in Aktau in May 2025. As a result of the modernization, its annual oil refining capacity increased by 50%, from 1 million to 1.5 million tonnes. A key achievement was the expansion of production of strategic road bitumen to 750,000 tonnes per year, also marking a 50% increase.
The heads of Samruk-Kazyna and CITIC Group serve as co-chairs of the Kazakhstan-China Business Council, which has been successfully operating since 2013.
CITIC Group is a major state-owned conglomerate engaged in financial and banking activities, insurance, industrial and construction investments, as well as energy, transport, and telecommunications projects.