Kazakhstan and China agree on construction of an oil refinery

08 сентября 2013, 02:07
©RIA Novosti
©RIA Novosti
During the visit of China’s President Xi Jinping to Kazakhstan contracts worth $30 billion are to be signed, Tengrinews.kz reports, citing President Nursultan Nazarbayev as saying.

“During the visit, 22 contracts totally worth $30 billion are to be signed, with the largest ones being related to the oil and gas industry. Notably, we have agreed to construct an oil refinery in Kazakhstan. The agreement meets Kazakhstan’s pressing need”, President Nazarbayev said at a press-conference following the talks with his Chinese counterpart in Astana.

He also briefed that the talks with President Xi Jinping had focused on cooperation in agriculture, transport and communications, construction, and student exchanges.

At the sitting of the Kazakh-Chinese Business Council the two sides signed contracts worth over $22 billion, according to Umirzak Shukeev, Head of Samruk Kazyna Sovereign Wealth Fund.

“Following the panel sessions, we have come up with an investment map with a total of 21 projects worth over $22 billion. All the projects are to be completed by 2020”, he said.

President Xi Jinping is in Astana on his first state visit.

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