BAKU, Azerbaijan, July 30
Trend:
Deputy Prime Minister of the Republic of Kazakhstan Roman Sklyar and Director General of ArcelorMittal CIS Vijay Goyal signed a memorandum of understanding between the Government of the Republic of Kazakhstan and ArcelorMittal Temirtau JSC, Trend reports with reference to Kazinform news agency.
The memorandum envisages the process of ensuring the sustainable development of the metallurgical industry of Kazakhstan, as well as growth in the social, environmental, labor and economic spheres.
Proceeding from the terms of the memorandum, ArcelorMittal Temirtau JSC will greatly increase investments in its modernization, the total volume of which upon the Investment Contract will amount to at least $3 billion over the next 10 years. Most of this amount will be invested during the first five years of the agreement.
In accordance with the document, the activity of ArcelorMittal Temirtau JSC will be aimed at enhancing social stability, ensuring industrial safety, as well as preserving the environment and ecology.
It is planned to overhaul the coke-chemical and blast-furnace facilities, repair boilers at thermal power plants # 1 and # 2, construct and use new coke oven batteries and do other work.
ArcelorMittal Temirtau JSC by involving the independent experts will analyze the entire production cycle for safe, environmental, social sustainability, on the basis of which the sides agree on programs for further development in these spheres.
The conclusion of the memorandum was preceded by the meetings of the two sides, at which an algorithm for interaction on topical issues was discussed, and a roadmap for the modernization of production was signed.
In general, the signing of the memorandum will allow the sides to bring interaction to a qualitatively new level, improve the safety of production processes of ArcelorMittal Temirtau JSC, and comply with the principles of environmental safety requirements.
