ASTANA, Kazakhstan, August 14. Kazakhstan's Qarmet metallurgical plant plans to increase production by 66 percent by 2028, Chairman of the Board of Directors of Qarmet Andrey Lavrentyev said, Trend reports.
He made the remark during the visit of President of Kazakhstan Kassym-Jomart Tokayev to the metallurgical plant.
"By 2028, the company plans to reach a production volume of 5 million tons of steel, production of 9 million tons of coal, and 5 million tons of iron ore concentrate, which will provide an average growth of 66 percent compared to 2023 figures," he said.
He also informed Tokayev about completed and ongoing production development projects worth over $3.5 billion.
As Lavrentyev noted, additional investments are planned in the projects of the coal department of about $500 million and the iron ore department of $978 million.
Meanwhile, the production capacity of the metallurgical plant is 5.3 million tons of liquid steel per year.
Last year, the company sold 2.9 million tons of finished products, of which 2.1 million tons were exported to Russia, China, Uzbekistan, Kyrgyzstan, Tajikistan, Turkmenistan, Georgia, Azerbaijan and Afghanistan.
Furthermore, Kazakhstan’s industrial production totaled 46.4 trillion tenge (approximately $102.5 billion) from January to December 2023, reflecting a 4.3 percent increase compared to 2022.
Production in the mining and quarrying sector reached 21.7 trillion tenge (around $47.9 billion), up by 4.6 percent from 2022. This sector accounted for 46.9 percent of total industrial production.
The manufacturing sector saw a 4.1 percent increase, reaching 21.6 trillion tenge (about $47.7 billion), covering 46.6 percent of total industrial output.