The company will update equipment, introduce modern technologies and raise safety standards.
The government of Kazakhstan held a meeting on the development of Qarmet, the former ArcelorMittal Temirtau, with the participation of ministers and the company’s new investor Andrey Lavrentiev, reported in the Prime Minister’s Office
“We discussed measures to stabilize the operational processes of the enterprise, provide it with the necessary raw materials, and carry out a number of legal procedures. We separately considered the implementation of the investment program, which provides for the modernization of the plant’s equipment, the introduction of modern production technologies and raising industrial safety standards. At the first stage, about $1.3 billion will be allocated for these purposes,” the statement says.
Prime Minister Alikhan Smailov emphasized that the enterprise must fulfill all obligations to employees in a timely manner.
“The head of government pointed out the importance of further dynamic development of production, growth in product output and the gradual elimination of identified environmental violations. He instructed central government agencies to provide the necessary support to the enterprise in resolving current issues and, together with the investor, to develop specific action plans for each area of Qarmet’s development,” the prime minister’s office said.
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