Kazakhstan Chamber of Commerce in the USA

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Kazakhstan to build new refinery jointly with Iran

Posted on July 31, 2015 by KazCham

Business Intelligence from Colibri Law Firm: Issue #109

Kazakhstan will construct a new refinery in the Mangistau region jointly with Iran, according to Rakimbek Amirjanov, the Deputy Akim (Governor) of the Mangistau Region.

Mr Amirjanov went on to add that Iran and Kazakhstan have already held a number of official negotiations on the issue. He furthermore confirmed that there are large companies in Kazakhstan that are interested in investing into this project.

A feasibility study of the project on construction of the fourth refinery is expected to be ready in the near future while the agreement on the construction of the refinery will be signed by the end of this year. Calculations suggest the approximate minimum amount of investment in the construction of the project to, at least, reach as much as $6 billion.

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