A new oil extraction plant with a capacity of 1,200 tonnes of production per day will appear in Kazakhstan. It is being built in the North Kazakhstan region and is planned to be launched in 2023. The enterprise plans to process seeds of various types of oilseeds, including sunflower, rapeseed, soybeans and flax. Another important fact is that the plant will be completely waste-free. Processing residues will be sold as feed. The plant intends to export its main products to China, carving out its own niche.
“It’s an oil extraction plant. That is, at the beginning we have seeds, and then we get high-protein feeds, which are sharply needed in Kazakhstan. We will also produce crude oil. There’s currently a lot of demand for oil. It is due to the fact that Canada has cut supplies to China and also the U.S. is reducing its exports, so China is somehow shifting towards Kazakhstan, Russia and Ukraine. Our oil is in great demand,” said Pavel Selivanov, Director General of plant.
The project is being implemented with the financial support from the Development Bank of Kazakhstan (DBK). According to its spokespeople, food industry projects account for a small share of the bank’s total financing portfolio. However, the Development Bank is considering about 20 proposals for this industry. The total cost of the projects exceeds 40 billion tenge (US$93.8 million).
“This project is being implemented as part of the ‘Business Roadmap 2025’ program and the state program for industrial and innovative development. We have provided financing for 12 years. The loan amount will be 11 billion tenge (US$25.8 million). Overall, the total cost of the project stands at 15 billion tenge (US$35.2 million),” said Adil Ismagambetov, Managing Director, Development Bank of Kazakhstan.
Translation by Assem Zhanmukhanova
Editing by Saule Mukhamejanova
