First stone of the foundation of deep oil processing complex lain in Atyrau refinery.

The first stone of the complex for deep oil processing has been lain at Atyrau refinery, reports Development Bank of Kazakhstan.

“A solemn ceremony of the first stone laying of the foundation of the complex for deep oil processing was held on September 10 2012 at Atyrau refinery,” the message reports.

The complex construction is the final stage of the refinery reconstruction implemented within the state program for accelerated industrial-innovational development.

“The capacity of the complex is 2.4 mln tons of raw materials (oil fuel, vacuum gasol) per year. The complex will boost production of high octane petrol, jet and diesel fuel. All the motor fuels will meet Euro-5 requirements,” reads the message.

As reported, a credit agreement was signed between the bank and the refinery on August 17 2012 for the complex construction. The loan amounted to $252 mln.

The design capacity of oil refining of LLP “Atyrau refinery” is 5 million tons per year. 99.5% of the stake in “Atyrau refinery” belongs to KazMunayGas – processing and marketing JSC (100% subsidiary of JSC NC “KazMunayGas”).

JSC “Development Bank of Kazakhstan “- the Kazakhstan Institute of development, 100% owned by Sovereign Wealth Fund «Samruk-Kazyna» JSC. The Bank’s activities are aimed at the development of industrial infrastructure, assistance in attracting investment in the country’s economy. Among the approved projects, the projects in the chemical, metallurgical, electric power, construction materials, transport and communications industries are the most important.