Kazakhstan's Samruk-Kazyna, China's CITIC discuss expansion of cooperation

ASTANA, Kazakhstan, April 27. Chairman of the
Management Board of Samruk-Kazyna Nurlan Zhakupov and Deputy
Chairman of the Board of Directors of CITIC Group Zhang Wenwu
discussed the expansion of cooperation and the implementation of
joint projects, Trend
reports via Samruk-Kazyna.

Among the joint projects is the upgraded Caspi Bitum project,
implemented by KazMunayGas and CITIC Group, commissioned ahead of
schedule in Aktau in May 2025. As a result of the modernization,
its annual oil refining capacity increased by 50%, from 1 million
to 1.5 million tonnes. A key achievement was the expansion of
production of strategic road bitumen to 750,000 tonnes per year,
also marking a 50% increase.

The heads of Samruk-Kazyna and CITIC Group serve as co-chairs of
the Kazakhstan-China Business Council, which has been successfully
operating since 2013.

CITIC Group is a major state-owned conglomerate engaged in
financial and banking activities, insurance, industrial and
construction investments, as well as energy, transport, and
telecommunications projects.