News 2017
February 2017Atyrau oil refinery
Two ways of privatization are discussed in relation to the Atyrau oil refinery, Kaztag reports. “We are currently considering two ways of privatization - outside the perimeter of the IPO and privatization inside the perimeter of the IPO. Modernization of the plant was made by means of credit and the resulting debt must be maintained. It will be great of there is a private party willing to assume the debt”, - said the Chairman of the Board of Samruk-Kazyna JSC Umirzak Shukeev during a visit to the Atyrau refinery.
According to him, if the privatization will take place “outside the perimeter of the IPO”, then the fate of the plant will depend on whether KazMunaiGas NC JSC will be able to service the debt. “If the private party obtains the plant, in the first place the question is for how much to sell the plant. And we will have to consider the sale ahead of the programme”, - explained U. Shukeev.
It is believed that the plant must remain within the KMG, when the company enters the IPO then the plant should be privatized. However, this may increase the cost of JSC NC KazMunayGas, mentioned the Head of the National Fund. During the visit to the factory, U. Shukeev inspected the modernization of the Atyrau oil refinery: To date, the second phase is completed, in which the complex for production of aromatic hydrocarbons was built, which allows to produce high-octane gasoline components, as well as benzene and paraxylene in volume of 133 thous. tons and 496 thous. tons respectively annually.
Within the framework of the third phase of Atyrau refinery modernization the construction of the advanced petroleum refining complex is near completion, which will significantly increase the production of motor fuel. While manufactured fuel will comply with environmental classes K4, K5 in accordance with the requirements of the technical regulations of the Customs Union. Completion of construction and commencement of commissioning is scheduled for the second quarter of 2017.