September 27, 2008

Kazakh Oil Giant Continues Investment in Oil Terminal in Georgia

Excerpt from report by corporate-owned Russian news agency Interfax

Astana, 26 September: The KazTransOil national [petroleum- transportation] company (subsidiary of the Kazakh state oil company KazMunayGaz ) does not abandon its plans to invest in the Batumi port and an oil terminal in Georgia.

"An investment programme, which stipulates the further development of capacity and technical re-equipment of these facilities in accordance with the standards of the KazTransOil company, is in force in the Batumi oil terminal and the Batumi sea port,". The company aims to achieve the main production and financial figures planned for 2008 of its transport assets' work in Georgia, the port and the terminal, at the transhipment level of 9.2m tonnes of freight," the company's press service told the Interfax-Kazakhstan news agency.

[Passage omitted: background on the terminal and port in Batumi]

Originally published by Interfax news agency, Moscow, in Russian 0751 26 Sep 08.

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