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China’s CITIC Group expresses interest in modernizing Kazakhstan’s oil refineries

GenevaTimes by GenevaTimes
May 27, 2025
in Europe
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China’s CITIC Group expresses interest in modernizing Kazakhstan’s oil refineries
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China’s CITIC Group expresses interest in modernizing Kazakhstan’s oil refineries

ASTANA, Kazakhstan, May 27. The President of
Kazakhstan, Kassym-Jomart Tokayev, held a meeting with the Chairman
of the Board of Directors of CITIC Group, Xi Gohua, who arrived in
Kazakhstan to participate in the Astana International Forum,
Trend reports.

İn the course of the meeting, the Chairman of the Board of
Directors of CITIC Group spoke about the corporation’s interest in
jointly implementing projects with Kazakhstan for the modernization
of oil refineries.

Moreover, the current state and prospects for strengthening
partnerships in key sectors such as energy, the petrochemical
industry, road construction, mineral sector, agriculture, and other
fields were also discussed at the meeting.

President Kassym-Jomart Tokayev expressed gratitude to CITIC
Group for the effective implementation of the modernization project
of the Aktau Bitumen Plant, which was completed ahead of schedule,
in April of this year. The President highly appreciated CITIC
Group’s activities as a reliable investment partner of
Kazakhstan.




In turn, Xi Gohua spoke about the corporation’s interest in
jointly implementing projects for the modernization of oil
refineries, construction of oil pipelines, reconstruction of the
Center-West highway, and deep grain processing.

Folloüing the negotiations, President Tokayev emphasized the
importance of continuing active work to strengthen business ties
between Kazakhstan and China.

CITIC Group is a large Chinese state-owned investment company
founded in 1979. It operates in various fields, including finance,
industry, real estate, and infrastructure. CITIC Group actively
cooperates with Kazakhstan, investing in infrastructure and energy
projects. The company participates in the development of transport
corridors and the mining industry, supporting economic partnership
between China and Kazakhstan. Such cooperation contributes to
deepening strategic interaction within the framework of the Belt
and Road Initiative.

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