MYSTERIOUS SINGAPOREAN COMPANY TO FINANCE CONSTRUCTION OF A BRAND NEW REFINERY IN KARAGANDA REGION
Image source: Karaganda Akimat
A new refinery will be constructed in the Zhanaarka District in Karaganda region. A land of 100 he was allocated to construct the plant.
“Works are held by Abylaikhan company. Presently lands are allocated: a 100-hectare land to construct a plant, 70 hectares – to construct houses and cultural institutions. It is planned to construct a small town with a sports complex, medical unit, and trade centre,” said Governor of the Zhanaarka District Yurzhan Bekkozhin.
Funds to construct the refinery were invested by a Singaporean company R Way Solution PTE Ltd. Honeywell UOP was chosen as a main licensor of technologies for the project.
“Plans and estimates are submitted for state expert review. Once a conclusion is received, the construction begins. The plant will be located 6 km away from the regional centre of Atasu. It is planned to construct the plant within two years. 1.5 thousand people will be involved. After the plant is brought into operation, 500 people will be employed,” said Yurzhan Bekkozhin.
This spring a contract with investors from Singapore for the total amount of $1 billion has been signed in Karaganda. Singaporean investor responded to journalists’ question why Kazakhstan was chosen as a launch pad for the construction of Refinery.
“We were looking for a developing country in Central Asia with a stable economy,” said the representative of R Way Solution PTE Ltd Raghunandan Balasubramaniam.
Following preliminary estimates, the plant will refine up to 1 million tons of oil.