The main topic of the meeting was the implementation of the project to build a metallurgical plant with a capacity of 3 million tons of steel in the territory of the Jibek Joly special economic zone in the Zhambyl region. The total amount of investment by the Chinese investor is estimated at $1.2 billion. As part of the project, 2.5 thousand jobs will be created. The start of construction is scheduled for April 2025.
According to the investor’s plans, at the first stage in 2027, the production capacity will be 1 million tons of steel, and by 2029, production will increase to 3 million tons.
Kazakhstani raw materials will be used for production: natural gas, iron ore and lime. As a result, the enterprise plans to produce a wide range of products, including wire rod, rebar, strip steel for pipe production, as well as angle and profiles.
Chairman of the Board of Fujian Hengwang Investment Co., Ltd. Zeng Zhaoqian emphasized that the company will implement direct reduction iron (DRI) technology, which will ensure its high content in products - more than 90% and increase the competitiveness of Kazakhstan's metallurgy.
The head of the Government Olzhas Bektenov noted that this project will be an important step for the development of the industry, increasing production capacity and expanding the country's export potential.
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