The Japan Financial institution for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed as we speak a buyer’s credit score (export credit score) settlement totaling up to 178.5 million U.S. dollars (JBIC’s portion) with LLP Atyrau refinery (AR), a subsidiary of state-owned oil and fuel company JSC NC KazMunayGas in the Republic of Kazakhstan that’s engaged in oil refining and the marketing of petroleum products. This mortgage is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), and Nippon Export and Investment Insurance coverage (NEXI) supplies Buyer’s Credit score Insurance for the portion cofinanced by BTMU. The general cofinancing amounts to 297.5 million U.S. medium salt distillation column dollars.

oil cracking towerThis loan will primarily fund the acquisition of a fluid catalytic cracker (FCC) and related plant tools by way of Marubeni Company as a part of the modernization mission supposed to attenuate the environmental impact of the manufacturing course of in the Atyrau Oil Refinery operated and maintained by AR in Atyrau City, Kazakhstan.

Kazakhstan, endowed with an abundance of oil and natural gasoline, has sustained progress centered round pure useful resource growth. The federal government had set the target of modernizing and diversifying the nation’s trade in its Five-Year Plan that started in 2010. This Mission is expected to meet the domestic demand of petroleum products by way of the modernization of the related facilities. JBIC’s support for the export of FCC and associated tools by a Japanese firm will result in the creation of business opportunities within the oil refinery and petrochemical sectors, thereby contributing to sustaining and bettering the worldwide competitiveness of Japanese industries.

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