News Post
Kazakhstan to Build New Refinery with Iran
The Republic Kazakhstan will construct a brand new oil refinery in the country together with Iran. The new facility will be Kazakhstan’s fourth such plant, and will be set up in the Mangistau Oblast. The latest facility will be an addition to the current three, situated in the Pavlodar, Atyrau and South Kazakhstan oblasts, Dinars Urazova writes for Tengrinews.
Deputy Mangistau Oblast Akim, Rakimbek Amirzhanov discussed the project during a Wednesday briefing for journalists. Amirzhanov stressed both countries have companies that are interested in investing and working on the facility. He specified that relevant Kazakh officials have held high-level talks with Iran’s Oil Ministry, while reminding those present Iran has already shipped five million tons of crude oil via the Aktau port as part of swap deals.
“The swap operation at the time was beneficial for both Kazakhstan and Iran. Now, we have offered to build a refinery together. It will be located in the Mangistau Oblast. Oil will be sent from Mangistau to the northern ports of Iran, while the southern section will provide crude oil to the oil companies of Mangistau as well as our entire country. This is in the best interests of both sides,” Amirzhanov stated.
Amirzhanov stressed a feasibility study would be conducted in the near future, assuming adequate financing was obtained. In addition, an agreement would be inked for construction by the end of 2015. The minimum needed investment for the project will be $6 billion.
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