ASTANA, Kazakhstan, February 18. Kazakhstan, together with China's East Hope Group, will launch the largest project in non-ferrous metals processing, Trend reports
The Ministry of Foreign Affairs of the Republic of Kazakhstan hosted the signing of an agreement for the implementation of an investment project in the production and deep processing of non-ferrous metals in Kazakhstan. The signing ceremony was attended by Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Alibek Kuantyrov, Vice Minister of Industry and Construction of the Republic of Kazakhstan Olzhas Saparbekov, and General Director of East Hope Group Changjun Meng.
The project involves the establishment of new production facilities in two regions of the country, which will enable the implementation of advanced technologies in the metallurgy industry and expand the export of finished products to international markets, including the European Union, Central Asia, and China.
The total investment volume is estimated at $12 billion. The project’s implementation will create over 10,000 jobs. It also includes the construction of power generation facilities, including a 3 GW wind power station.
“The relations between Kazakhstan and China are at a high level of strategic partnership. This has largely been made possible due to the close and trusting relationship between the President of the Republic of Kazakhstan, Kassym-Jomart Tokayev, and the President of the People's Republic of China, Xi Jinping. The implementation of this project will not only bring advanced technologies but also create thousands of new jobs, develop the local supply chain, and enhance the competitiveness of Kazakhstani products in international markets,” emphasized Alibek Kuantyrov.
In addition, the parties agreed to work out the details of an investment agreement that will include specific terms of cooperation, measures of state support, and the obligations of the parties.
In turn, Olzhas Saparbekov expressed his readiness to provide comprehensive support for the project and noted its strategic importance for the industrial development of Kazakhstan.
“The establishment of large-scale production facilities will not only strengthen Kazakhstan's position as a metallurgy hub in the region but also serve as a driver for attracting new investments and facilitating technological exchange," he said.
Following the signing, Changjun Meng noted that East Hope Group views Kazakhstan as an important strategic partner in the region.
“We highly appreciate Kazakhstan's economic potential and its investment climate. This project will not only be an important step for our company but also a significant contribution to the industrial development of the country. We are confident that, through joint efforts, we can implement it at the highest level”, he added.
The parties expressed confidence in further strengthening cooperation and agreed to continue working together on the preparations for the practical implementation of the project.
East Hope Group (EHG) is a leading global manufacturer of non-ferrous metals, semiconductor technologies, and industrial innovations. The company actively invests in the development of low-carbon industrial complexes and the implementation of international projects.
