New refinery to be erected in N Kazakhstan

As said by Amantai JUSSUPOV, Director of Investors Service Center, in an interview, at the latest investors' forum in Petropavlovsk it was proposed to start construction of a refinery in this northern region of the country.

"An alliance of investors from China, Kazakhstan and Slovenia will be created. The village of Bulaevo in North Kazakhstan Oblast will be the location, where a Russian pipeline and a railway go through. At the moment, investors are seeking a land parcel for the refinery and making calculations and feasibility studies, which will be over in January 2013" he said.

"There is no similar plant in Kazakhstan - it will be provided with up-to-date equipment. The project costs $2.4bn. Initially it will be refining 5mln tons a year. Investors believe the plant's foundation stone will be laid by the end of the year" Mr Jussupov added.

To recall, Samruk-Kazyna experts were surprised about the idea of a refinery in the north of Kazakhstan claiming it is more reasonable to locate it in the west of the country.

WKT citing azh.kz