Chevron Direct Investment Fund (CDIF) will invest $23.5 million in the construction of a ferroalloy plant in Ekibastuz, supporting Kazakhstan’s efforts to expand value-added metals production.
The project is being developed by (MPI), which plans to produce 80,000 tonnes of ferrosilicon-75 annually. The facility’s technology will also allow for the production of ferromanganese and silicomanganese. More than 500 jobs are expected to be created.
According to MPI, South Korea’s SAC Co. will act as the project’s technology partner. The plant will be equipped with eight electric furnaces, each with a capacity of 33 MVA. Output is intended for export to South Korea, Japan, North America and European markets. The first production phase is scheduled to launch in 2026.
Earlier, the (DBK) announced it would allocate €148 million to finance the project. Total construction costs are estimated at €213 million, with MPI and Chevron contributing approximately €65 million in equity.
Chevron has operated in Kazakhstan for more than three decades. Through CDIF, the company invests in promising domestic enterprises across various sectors to support economic diversification. The MPI project is expected to strengthen the industrial base of the Pavlodar region and expand Kazakhstan’s presence in global ferroalloy markets.
