2000-02-07 Kazak Politics & MacroEconomics - Japanese Delegation

Japanese Delegation Announces Approval of USD 450 m Refinery Modernisation Project

The Japanese Bank of International Co-operation has approved a USD 450 million loan for a project to rebuild the Atyrau Oil Refinery in Kazakhstan. The reconstruction will boost capacity at the refinery to 4.5 million tonnes of oil a year; in the first 11 months of 1999 it refined just over 1.7 million tonnes.

The Kazakhstani national oil company, Kazakhoil, owns 86 percent of the refinery’s shares.

A Chevron-led group of governments and companies is currently building a USD 2.4 billion pipeline to take Kazakhstani oil to international markets through the Black Sea port in Novorossiisk, Russia. (Bloomberg)

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