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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.


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SteelRadar Insight - Sayı 1 (Haziran 2024)

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