Kanat Sharlapaev, Kazakhstan’s Minister of Industry and Construction, has addressed concerns regarding the acquisition of Qarmet (formerly known as “ArcelorMittal Temirtau,” AMT), stating that government funds were not utilized for purchasing Qarmet shares. Sharlapaev emphasized that the acquisition was financed entirely through private investments, dismissing speculations of state involvement. He underscored the commercial nature of the transaction, highlighting Qarmet’s significance as a major employer with an annual revenue exceeding $2 billion. The minister defended the financing approach, citing it as a standard business practice aimed at enhancing operations and environmental conditions in Temirtau.
Source and Credit: kaztag.kz
