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Economy of Aktobe



Agriculture and ranching play a large role in Aktobe province's economy and in rural employment. Beef, mutton and dairy products are major products in this area.

Heavy industry was established in Aktobe during the Second World War. Many of today's fastest-growing industries in Aktobe are related to food production (such as the company "Ramazan"), construction ("Dastan") or vodka distilling ("Wimpex" and "Ayazhan"). A number of foreign companies, notably German and Austrian firms, have established partnerships with local light industry firms. Both copper and chromite are mined in the Khromtau district of Aktobe province.

However, the major engine of economic growth in Aktobe and Aktobe province has been the development of energy resources. The Chinese National Petroleum Company (CNPC) owns a 60% stake in AktobeMunaiGaz, and is investing heavily in oil and natural gas extraction from Aktobe province oilfields. A pipeline has been constructed to transport oil to Xinjiang (see Energy and Utilities).

The revenues from oil and gas extraction have helped to develop banking, real estate, and support services in Aktobe