Over $4bln to be invested in modernization of 3 Kazakh oil refineries

ALMATY. March 24. KAZINFORM /Aigul Turysbekova/ More than USD 4 billion will be invested in modernization of three oil refineries of Kazakhstan. Vice Minister of Oil and Gas Asset Magauov said it at the VI annual symposium on oil processing, petrochemistry and oil products "KazRefinEx-2011" in Almaty on Thursday.

According to him, three projects totaling USD 2.6 billion are realized at Atyrau oil processing plant. They include USD 300 million for the reconstruction of vacuum block of ELOU-AVT-3 unit; USD 1.2 billion for the construction of aromatic hydrocarbons production complex; USD 1.1 billion for the construction of a deep conversion complex.

USD 1.2 billion of investments will be pumped into modernization of Pavlodar oil processing plant. Shymkent oil refinery will also receive more than USD 1 billion of investments.