New Metallurgical Plant to be Launched in Shymkent in Five Years

30/05/2024

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In five years, another metallurgical plant will be launched in Kazakhstan, specifically in Shymkent. The modern facility, with a capacity of 5 million tons, will be implemented by the Chinese company Fujian Hengwang Investment Co., Ltd. The relevant documents have already been signed by the city’s administration, reports the kapital.kz portal.

It is known that during the construction period, Chinese partners will invest about 1.75 billion US dollars into the metropolis’s industry. Additionally, around 1,000 new jobs will be created in the region. According to the approved plan, the construction of the plant will be carried out in three stages.

It is worth noting that the investor is part of Jiangsu Coastal Steel Group Co., Ltd, one of the largest corporations with significant experience in the production and sale of steel. Representatives of the foreign company mentioned that the city currently provides a favorable environment for investments. If the plant is successfully built and launched, the Chinese side will propose a number of new investment projects to Shymkent’s administration.

City authorities, in turn, have promised to provide the necessary support for the project.

Source and Credit: dprom.kz