A factory for production of base stocks will be constructed in Shymkent, Rakhymzhan Nupbayev, executive director of HILL Corporation, has said. «A plant for production of base stocks will be constructed in Shymkent in 2014. The government approved this project and a place near the Shymkent Oil Refinery was chosen for the construction. A memorandum was signed with KazMunayGaz and PetroKazakhstan Oil Products and it sets the targeted production of base stocks at 200,000 tonnes per year out of the initial 500,000 tonnes of input material from the oil refinery. This will be the first plant for production of base stocks in Kazakhstan. This product is in high demand now all over the world. We will send about a half of the produced base stocks for processing into engine oils to our first plant [HILL Corporation owns the Shymkent plant for production of engine oils]. We are currently purchasing it [the engine oil] from abroad while our own production will significantly bring the price for our product down», Nupbayev said.
According to the HILL Corporation's executive director, the remaining amount of the product will be sold. «Companies from China, Turkey, Russia and Lithuania are trying to sign contracts for supply of base stocks already now», he emphasized. HILL Corporation is a unique and the only company in Kazakhstan producing engine oils. The plant was constructed by the HILL Corporation in the industrial zone of Shymkent in the framework of the State Programme for Fast Industrial Innovation Development. It was commissioned in June 2010, during a TV bridge entitled «We will build a strong Kazakhstan together» with the participation of Kazakhstani President Nursultan Nazarbayev. The plant's production capacity is 24,000 tonnes of oil per year.
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