ASTANA, Kazakhstan, May 14. First Deputy Prime Minister of Kazakhstan Roman Sklyar held a meeting with the president of Fufeng Group, Li Xuechun, and discussed the implementation of a large-scale investment project for the construction of a vertically integrated industrial park for deep processing of corn in the Zhambyl region, Trend reports.
"The planned investment volume is about $800 million. The production complex of the project includes a starch production plant, three bio-fermentation plants, a coal-fired thermal power plant, and wastewater treatment facilities," the statement says.
The parties also discussed the terms of the upcoming Investment Agreement, including issues related to providing export support and key government measures for the development of the deep corn processing industry.
The president of Fufeng Group, Li Xuechun, assured that the creation of a high-tech production complex would significantly increase the added value of agricultural products, stimulate the development of related industries, create a stable sales market for domestic agricultural producers, and strengthen the country's export potential.
Kazakhstan's corn processing capacity is 1 million tons per year, including supplies from local agricultural producers. Exports of finished products are oriented towards the EU, North Africa and the Middle East. The implementation of the project will create about 1,500 new jobs.
