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Kazakhstan to boost petrol production threefold with a new deeper conversion complex at the Atyrau-based oil refinery

27 january 2012, 14:01
0
Oil refinery. RIA Novosti©
Oil refinery. RIA Novosti©
With a new deeper conversion complex at the Atyrau-based oil refinery Kazakhstan will be producing three times more petrol, Kazakhstan’s President Nursultan Nazarbayev announced in his State of the Nation Address January 27.

“A deeper conversion complex worth $1.7 billion should be constructed at the Atyrau-based oil refinery to boost production of petrol threefold to 1.7 million tons and production of diesel fuel to 1.4 million tons”, President Nazarbayev said.

Among the other large-scaled industrial projects to be implemented in the nearest future President Nazarbayev named construction of a fertilizers-producing facility worth $2 billion in Zhambyl oblast in the South of Kazakhstan. “The facility will spur the economy of Zhambyl oblast and of the South of Kazakhstan”, President said.

Construction of the West China – West Europe motor corridor is of paramount importance, according to the President. “It’s a project of the century. When was it that the USSR or any other country built a whole 2700 km of high quality motor roads in just three years? The project should be completed next year”.

President also emphasized that the Integrated Gas-and-Chemical Complex in Atyrau worth $6.3 billion should be launched at its projected capacity to produce 500 000 tons of propylene and 800 000 tons of polyethylene. “These types of products have never been produced in Kazakhstan so far”, President stressed.

Nazarbayev also said that efforts should be taken to complete designing and start construction of the gas processing facility capable of handling 5 billion cubic meters a year at Karachaganak oil-and-gas field. “In this context I instruct the Government to plan and put in place a gas supply system in the central part of the country, including the capital city. It’s a capital-consuming project. However, we need to be independent of foreign gas supplies. We are a petroleum country and we need to secure gas supply from internal sources at whatever it costs us”, President said.

“We will have to borrow from the National Oil Fund to implement industrial projects. I believe it’s right. Let’s invest the money into the national economy rather than keep it with Western banks”, Nazarbayev said.

“Investments sources to finance some of the industrial projects of prime priority have been found, whereas some projects are still looking for funds. I am asking the Government and the Parliament to revisit the national budget and allocate funds needed to finance the projects”, Head of State said.

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