NUR-SULTAN – Lukoil, the Russian multinational energy corporation, has invested more than $9 million to construct a lubricant production plant in the Almaty Region. The company plans to sell products not only in the Central Asian region, but also export to Afghanistan, China and Mongolia.
“The largest Russian company Lukoil is not only an investor in Kazakhstan, but it is also a strategic partner. This is clearly evidenced by the fact that since 1995, the company has invested 9.5 billion tenge (US$24.4 million) in the domestic economy. With the participation of Lukoil, we are implementing a series of large joint projects. All this is the result of a bilateral fruitful partnership,” said Prime Minister Askar Mamin during the opening ceremony.
The new plant is located in the Ili district. Production capacity will reach up to 100,000 tonnes of finished products per year, reported BNews.kz.
“All production processes are automated and meet the necessary international standards. In total, about $9.4 million was invested in the construction and commissioning of the plant. The conveyors of the enterprise will produce up to 800 names of finished products that meet all international quality standards. For example, the worldwide, well-known brand of Lukoil, Genesis Engine Oil, will be produced here,” reported the Almaty Region akimat (administration) press service.
The new facility will employ more than 250 people, half of whom are expected to be local residents and narrow-profile young specialists.
The plant’s advantageous geographic location along the Western Europe – Western China Highway will provide access to export markets. The company and regional akimat highlighted the importance of the project.
Lukoil is one of the world’s largest publicly traded, vertically integrated oil and gas companies, accounting for more than 2 percent of the world’s oil production and approximately 1 percent of the proved hydrocarbon reserves. Consumers in more than 100 countries use its products, power and heat. Lukoil employs more than 100,000 people.