Kyrgyz Petroleum and Junda in Need of $100 Million for Modernization
Investment sought for modernization of Kyrgyz Petroleum and Junda plants
A press conference held in Bishkek by the Minister of Economy and Commerce of Kyrgyzstan, Daniyar Amangeldiev, has revealed that efforts are underway to attract investment for the modernization of Kyrgyz Petroleum and Junda plants. The minister stated that the ministry and the Cabinet of Ministers have provided all administrative support, including tax benefits for this initiative.
The Junda oil refinery has been inactive since 2019, but there are plans to revive it. Representatives of the Chinese Shanxi Coal and Chemical Industrial Corporation have expressed their intention to begin the second stage of construction of the Junda oil refinery. Their focus will be on the deep processing of petroleum products of the European K5 standard and the production of polypropylene.
This announcement signals a potential for economic growth and development in the region, as well as opportunities for partnerships and investments in the energy sector. As the government works to revitalize these plants, the hope is to create a more sustainable and efficient energy infrastructure for Kyrgyzstan. It will be important to monitor the progress of these modernization efforts and the impact they will have on the country’s energy industry.
