Development Bank of Kazakhstan JSC (a subsidiary of the Baiterek holding company, hereinafter referred to as DBK, the Bank) has signed an agreement to open a credit line on commercial terms as part of an investment project related to the construction of a gas processing plant at the Kashagan field in the Atyrau region.
The major infrastructure project is being implemented by GPC Investment LLP, with the support of QazaqGaz JSC, in accordance with the instructions of the President of Kazakhstan to accelerate the construction of new gas processing plants and fully utilize existing processing capacities.
The loan from the DBK amounts to 1,597,869,000 Chinese yuan.
The launch of the new gas processing plant will enable the processing of up to 1 billion cubic meters of associated petroleum gas annually. This will not only improve the efficiency of natural resource use, but also provide additional volumes of products for the national economy in the form of commercial gas, liquefied hydrocarbon gas, gas condensate, and granular sulfur.
The facility is scheduled to be commissioned at the end of 2026.
The project is being implemented under the EPC Agreement with a consortium consisting of:
- Consortium leader (General Contractor for construction and installation works) – Kazakh Construction Group LLP;
- Equipment Supplier – China Oil HBP Science & Technology Corporation Ltd;
- Designer – Promstroiproekt Design Institute LLP.
The project aims to increase the country's resource base and expand Kazakhstan's export potential for manufactured products. It will also create more than 1,000 new temporary and 600 permanent jobs, increase production volumes and enhance the efficiency of Kashagan field development.
