Fujian Hengwang Investment Co., a Chinese company, has signed an agreement to construct a $1.75 billion metallurgical plant in Shymkent, a city in southern Kazakhstan. The project will be located in the Temir industrial zone and is expected to create thousands of new jobs. The plant’s annual production capacity will be five million tons, and it will be built in three stages over a period of five years. Although the specific products to be manufactured at the plant have not been disclosed, Fujian Hengwang Investment Co. is part of the Jiangsu Coastal Steel Group Co., a major player in steel production and international trade.
In addition to this ambitious project, Shymkent is also witnessing other significant investments. Alarko Holding, a Turkish company, is involved in building a greenhouse complex covering 500 hectares with an investment of $650 million, which will create 2,000 new jobs. Furthermore, a combined-cycle plant with a maximum capacity of 500 MW is under construction, aiming to provide high-quality electricity, heat, and hot water supply to the city.
