11,134.08 TRY BIST 100 BIST 100
4.59 CNY CNY CNY
33.10 USD USD USD
36.18 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
41.69 TRY Interest Interest
85.43 USD Fossil Oil Fossil Oil
30.44 USD Silver Silver
4.41 USD Copper Copper
106.04 USD Iron Ore Iron Ore
382.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,626.72 TRY Gold (gr) Gold (gr)

Chinese company invests in huge steel plant in southern Kazakhstan

Fujian Hengwang Investment Co. Ltd. has signed an agreement to build a $1.75 billion steel plant in Shymkent city in southern part of Kazakhstan.

Chinese company invests in huge steel plant in southern Kazakhstan

Shymkent city, located in the south of Kazakhstan, attracted direct investment of $1.75 billion for the construction of a metallurgical plant. The investment was realised between Fujian Hengwang Investment Company, part of Jiangsu Coastal Steel Group, one of the largest stainless steel plants in China.

The agreement was signed by the Governor of Shymkent city Gabit Syzdykbekov and Liu Yunmin, Chairman of the Board of Directors of Fujian Hengwang Investment Co.

Recently, the Governor of the city Syzdykbekov presented to investors the industrial zone "Temir", where it is planned to build a plant. The project is expected to create one thousand new jobs and will be implemented in three stages over five years.

The annual production capacity of the plant will be five million tonnes. The plant will be equipped with the world's most advanced technologies and ensure high environmental safety standards. Syzdykbekov expressed his gratitude to the company's management for their interest in the city and their significant investment in the development of the industrial sector. He also assured that the city is ready to provide all kinds of support in the implementation of the project, including the necessary infrastructure.

Foreign investors noted that Shymkent creates all conditions for attracting investment.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In
SteelRadar Insight - Sayı 1 (Haziran 2024)

Most read news

BGH decision causes concern in the green steel sector

Thursday, July 18, 2024

Transformations in the UAE rebar market

Thursday, July 18, 2024

China and Indonesia's dominance affects Vietnam's stainless steel industry

Thursday, July 18, 2024

India's steel exports plunge 36% in the first quarter of FY 2024-25

Thursday, July 18, 2024

Tosyalı to establish the world's biggest DRI plant in Libya

Thursday, July 18, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now