Major Investment Planned for New Plant in Janaozen

KazMunayGas Chair Askhat Khassenov has explained the rationale behind building a new plant in Janaozen as part of Kazakhstan’s production localization program, Orda.kz reports.

According to Khassenov, OzenMunaiGas, a subsidiary of KazMunayGas, is actively working to expand the procurement of locally produced goods in Janaozen.

In this area, we have the opportunity to enter into direct agreements with manufacturers who guarantee to localize production in Janaozen on a competitive basis, in accordance with the selection criteria, including the equal conditions for all businesses, Khassenov stated during a meeting in the Majilis.

In April 2024, OzenMunayGas signed an agreement with Kaskor-Mashzavod LLP to construct a facility specializing in oil equipment production. The project will cost 17.3 billion tenge and generate 250 new jobs.

Other projects aimed at localizing production in Janaozen are under consideration, with an estimated investment of around 20 billion tenge.

Khassenov also highlighted that since 2022, businesses in Janaozen have signed 61 long-term contracts worth 186 billion tenge, strengthening the region’s industrial growth.

Original Author: Zhadra Zhulmukhametova