As part of their work with investors, employees of the National Investment Agency, together with representatives of the Ministry of Economy and Commerce and Kara-Balta City Hall, visited the oil refinery of China Petrol Company Zhongda LLC to assess the progress of its modernization.
The visit took place at the official invitation of the company and investor China Shaanxi Coal and Chemical Industry Corporation to review the implementation of the overhaul and modernization project at the existing refinery.
Modernization of the refinery, with a capacity of 800,000 tons per year, is one of the largest investment projects being implemented in the Kyrgyz Republic. The project is being implemented under an investment agreement signed between the National Investment Agency and Central Asian Energy Company LLC, as well as an additional agreement providing for an increase in investment to $193.75 million and completion by July 31 of this year.
During the visit, participants were briefed on the current stage of construction and installation work and the state of readiness of the production facilities.
Government officials noted the project’s significance for the region’s industrial development, increasing oil refining depth, creating jobs, and strengthening the country’s energy security.
