Investments in new projects, including a factory for the production of galvanized steel, a pipe mill and a hot-dip galvanizing plant, are expected to amount to $478 million.
The regional coordination commission approved three new projects of the metallurgical sector. These include the construction of a plant for the production of polymer-coated galvanized rolled steel, a plant for the production of longitudinal electro-welded steel pipes, and the construction of a hot-dip galvanizing plant.
The implementation of the projects will start in 2023. Investments in the projects are expected to amount to 230 billion tenge ($478 million). The new businesses will create more than 2,000 jobs.
Earlier, Kazakhstan's QazSpecSteel company announced plans to invest $587 million in the construction of an 800,000 tons steel billet production plant in Aktobe. Once the business reaches full capacity, it will employ 1,500 people.
ArcelorMittal plans to invest $1 billion in its manufacturing facilities in Kazakhstan in the near future. Most of the funds will go towards the modernization of ArcelorMittal Temirtau production.
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