Dec. 29 (Bloomberg) -- KazMunaiGaz National Co., Kazakhstan’s state-owned oil producer, hired contractors for the $1.7 billion upgrade of its Atyrau oil refinery.
China Petroleum & Chemical Corp., Marubeni Corp. and JSC KazStroyService will work on the project, KazMunaiGaz said in an e-mailed statement today. The Atyrau refinery, located on the northern shore of the Caspian Sea, can process 120,000 barrels a day, according to data compiled by Bloomberg.
The upgrade includes the construction of a unit able to process 2.4 million metric tons of fuel oil a year, according to the statement. That unit will be complete in 41 months, it said.
Marubeni will arrange financing for the project from the Japan Bank for International Cooperation, KazMunaiGaz said.
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