ASTANA, Kazakhstan, April 17. During a working
trip to the Zhambyl Region, Prime Minister of Kazakhstan Olzhas
Bektenov reviewed the implementation of the president’s directives
on economic diversification by inspecting the progress of
investment projects in the chemical and manufacturing industries,
mechanical engineering, energy, metallurgy, and infrastructure
development, Trend
reports.
In the course of the visit, Deputy Akim (Governor) of the Zhambyl
Region, Abulkhair Tamabek, provided an update on the development of
infrastructure within the Special Economic Zone (SEZ), including
gas and electricity supply, water pipelines, and railway access
lines. The measures being taken aim to meet the needs of ongoing
industrial developments and create a foundation for launching new
investment projects.
“The Prime Minister also reviewed the start of construction of new industrial facilities: a full-cycle metallurgical complex and a deep corn-processing plant. These projects are being implemented as part of agreements and meetings held during Olzhas Bektenov’s working visit to China in November last year. With the participation of Chinese investor Fujian Hengwang Investment Co., Ltd., construction has begun on one of the country’s largest metallurgical plants, with a total value of approximately $1.2 billion. The project is being financed by the investor’s own funds. The enterprise will specialize in the production of rebar, wire rod, strip and profile steel, as well as other types of metal products,” the press service of the Prime Minister of Kazakhstan reads.
Chairman of the Board of Fujian Hengwang Investment Co., Ltd., Zeng Zhaoqian, reported that under the first phase of the project, the plant’s capacity will reach 1 million tons per year by 2027. The second phase, planned for 2027–2029, will increase output to 3 million tons annually. A gas turbine power plant is also planned to meet the energy needs of the enterprise.
“As a result, the project will become one of the major producers of ferrous metals and metal products with a full iron ore processing cycle in Kazakhstan. The government fully supports the construction of this plant and will provide all necessary assistance for its successful launch,” noted Bektenov.
Kazakhstan ranks 9th in the world in iron ore reserves. In 2023, production reached 37 million tons. The new full-cycle metallurgical complex project will be a significant contribution to the development of domestic metallurgy and an example of applying environmentally friendly technologies.
In total, 18 participants are registered in the Zhambyl Region’s SEZ. By the end of 2024, investment in the region is expected to reach 506 billion tenge (approx. $961.4 million), with growth projected to approximately 850 billion tenge (approx. $1.615 billion) in 2025 due to the construction of nine projects.