According to a statement by Kazakhstan’s Ministry of Trade, China-based Fujian Hengwang Investment is planning to establish a large-scale steel plant in the country.
The project came onto the agenda following Trade and Integration Minister Arman Shakkaliyev’s visit to China. The facility, which the company plans to develop with an investment of approximately $1.2 billion, is expected to have an annual steel production capacity of 3 million tons.
Once fully operational, the plant is expected to create approximately 2,500 jobs, with the produced steel intended for both the domestic Kazakh market and international markets. Fujian Hengwang Investment’s affiliation with Jiangsu Coastal Steel Group, which has experience in steel production and foreign trade, is considered a key factor strengthening the project’s technical and commercial foundation.
Comments
No comment yet.