News Post
Romania's Petromidia Refinery & new Cogeneration Facility
KazMunayGas International (KMGI), a wholly owned subsidiary of Kazakhstan's National Company KazMunayGas JSC, and Societatea de Administrare a Participatiilor in Energie (SAPE), which is owned by Romania's Ministry of Energy, signed an association agreement for the establishment of the Kazakh-Romanian Energy Investment Fund, KMGI said.
One of the projects which is considered for the joint investment fund deals with the construction of a cogeneration plant on the site of Petromidia in partnership with Uzina Termoelectrica Mid-ia. The cogeneration plant (combined production of electric power and heat) will have the ca-pacity to provide energy for both Navodari city and the Petromidia refinery. The value of the investment will reach $120 million and it is estimated that the project will be finalized four years after its commencement.
In Romania, KMGI operates the Petromidia Navodari refinery - the largest unit of its sort, the Vega Ploiesti refinery - the oldest refinery still in operation (1905) and the only producer of bi-tumen and hexane, but also a vast network for the distribution of petroleum products.
Source: Interfax
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