Friday, April 27, 2012 -
Chinese investors have agreed to build a refinery in the northern Kyrgyz province of Chui, local governing authorities said on Friday.
Investors will spend $50 million to build the oil-processing refinery, the KyrTAG news agency reported the local Chui authorities as saying. The plant will be built in the Chui town of Tokmok, the administrative seat of the province.
The annual processing capacity of the plant is expected to be 500 tons per year, and construction will begin on the refinery is surmised to begin in the second quarter of 2012.
Kyrgyz officials have been actively pursuing foreign investors, as the national economy is in need of foreign capital to bolster its struggling industrial sector.
The Kyrgyz capital Bishkek is located in Chui province.
In March, Azerbaijani state fuel company SOCAR agreed to build a refinery in Kyrgyzstan that will process 2 million tons of crude.