The investor and the contract price will be announced after all documents are signed. According to Kazakh Prime Minister Alikhan Smailov, no public funds will be used to finance the deal.
Preliminary criteria included the candidate's commitment to spend $3 billion on the reconstruction of the Temirtau steel plant over the next three years, as well as invest $1.3 billion to solve safety problems at the enterprise and mines supplying raw materials.
After signing the relevant documents, a program for resuscitation of the enterprise will be developed.
ArcelorMittal Temirtau will be bought by a Kazakh investor before December
According to the Prime Minister and Deputy Prime Minister of the country, Kazakhstan intends to close the agreement on the acquisition of ArcelorMittal Temirtau by an unnamed Kazakh investor by November 30.
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