ASTANA, Kazakhstan, November 1. The Chinese company Fufeng Group is set to construct a vertically integrated industrial park aimed at the deep processing of corn, which will house factories for starch sugar production and amino acid fermentation, Trend reports.
This fact was announced by the Chairman of the Board of Chinese company Fufeng Group, Li Xuechun, during a meeting with the Prime Minister of Kazakhstan, Olzhas Bektenov.
In the course of the meeting, they discussed cooperation in the fields of agro-industrial complexes and coal chemistry. Attention was also paid to the issues of long-term investment cooperation with a focus on deep processing.
The parties discussed Fufeng Group's proposal to establish a coal-fired thermal power plant, a wastewater treatment facility, and an industrial park for deep processing of corn in Kazakhstan. Deep processing of wheat and corn allows for the production of high value-added products such as starch, amino acids, monosodium glutamate, and xanthan gum, which can sell for 10-15 times the cost of raw materials. The project is expected to create 1,000 jobs and involve investments of around $300-350 million.
Li Xuechun emphasized the company's readiness to participate in agricultural crop cultivation, provide quality fertilizers, and share modern agrotechnology expertise with Kazakh specialists. The investor also expressed interest in collaborating in the coal chemistry sector.
The entry of a major player like Fufeng Group into the Kazakh market will contribute to the diversification of agricultural crops, especially in the northern grain-producing regions. The company's planned offtake contracts with Kazakh farmers will ensure guarantees for effective cooperation.
Following the meeting, the Prime Minister instructed the ministries of agriculture, industry, and construction to urgently prepare an investment agreement with Fufeng Group.
Fufeng Group Company Limited is a global leader in the bio-fermentation industry, specializing in the production of amino acids and their derivatives, as well as research and development in this field. The company is the largest producer of monosodium glutamate and xanthan gum in the world.