National company KazMunaiGaz (Kazakhstan) acquires a 58 % share in Pavlodar Petrochemical Plant
06.08.09 14:26
/KASE, August 6, 09/ - National company KazMunaiGaz (Astana), bonds of
which are listed on Kazakhstan Stock Exchange (KASE), provided KASE with a
press release dated August 5, 2009:
Quotation beginning
On 4 August of this year in Almaty the "Trade House "KazMunaiGaz" JSC (a
wholly-owned subsidiary of NC "KazMunayGas" JSC) signed the agreement on
purchase and sale of the 100% participation interest in the authorized capital
of the Refinery Company RT LLP that is the proprietor of the assets and the
owner of a 58% stake in the "Pavlodar Petrochemical Plant" JSC. The owner of the
remaining 42% stake in the "Pavlodar Petrochemical Plant" JSC is the State
Property and Privatization Committee under the Ministry of Finance of the
Republic of Kazakhstan.
The deal has been effected through TH лKazMunaiGaz N.V (a wholly-owned
subsidiary of the TH "KazMunaiGaz" JSC).
This acquisition has been carried out for the purposes of an instruction of the
Government of the Republic of Kazakhstan, and the Comprehensive Plan to
Develop the Refineries of the Republic of Kazakhstan for 2009-2015.
The principal objective of the Comprehensive Plan is energy security of the
Republic of Kazakhstan as related to full satisfaction of the domestic demand
for the main types of refined products - petrol, jet fuel and diesel, integrated
development of the refining industry. At the same time, the Comprehensive Plan
sets objectives of achieving dynamic development of the competitive capacity of
enterprises based on introduction of new machinery, new technology and
increasing the performance and economic returns level.
According to the plan, development and state expertise review of the feasibility
study for the Pavlodar PC Plant modernization and upgrade will be undertaken
during the fourth quarter of this year.
For reference: The Pavlodar Petrochemical Plant was constructed in 1978, its
design capacity for crude processing is 6 mln. tons of crude per annum.
The plant operates Claus sulfur, bitumen production units, delayed cokers,
a KT-1 residue deeper conversion complex. The Nelson Complexity Index is
currently 7.3; there are plans to bring it to 8.6 in 2014 after start-up of
the hydrogen unit and implementation of the investment program to provide
Euro IV product quality.
JSC "National Company "KazMunayGas" is the Kazakh operator for exploration,
production, refining and transportation of hydrocarbons, representing the
interests of the state in Kazakhstan's petroleum sector. 100 percent of the
shares of JSC NC "KazMunayGas" belong to JSC "Sovereign Welfare Fund
"Samruk-Kazyna".
"Trade House "KazMunaiGaz" JSC is a wholly-owned subsidiary of the NC
"KazMunayGas" JSC. Among the company's assets there are Atyrau Refinery
(99.3 %), Shymkent Refinery (50 %), and the Rompetrol Company (100 %). Key focus
areas: management of oil-refining assets, exports of crude and refined products,
development of the refined products retail chain.
Public Relations Department
National company KazMunaiGaz
19, Kabanbai batyr str., Astana, 010000, Kazakhstan
tel. +7 (7172) 976305, факс: +7 (7172) 976329
pr@kmg.kz; www.kmg.kz
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[2009-08-06]