KMGI Romania fund, the energy investment fund set up by Kazakhstan-based oil and gas company KazMunayGas International (KMGI) and Romanian Societatea de Administrare a Participațiilor în Energie, plans to construct a co-generation power facility on the Petromidia refinery in Romania.

With around 203.5 million euros ($230 million) infusion, KMGI Romania fund will set up the projects via special purpose vehicles.

The plant, with an implementation period of four years, will provide heating and hot water to the residents of Navodari, as well as electricity and technical steam for the Petromidia platform.

KMGI Romania fund will also construct new filling stations in the following five years, which will be operated under the Rompetrol brand and create more than 1,000 new jobs.