ASTANA, Kazakhstan, September 7. Chinese SHIJIXIANGHE Agribusiness Group Co., Ltd. plans to implement an investment project to build a complex wheat processing plant worth more than $600 million in Kazakhstan, Trend reports.
This topic was discussed during a meeting between the Managing Director of the KAZAKH INVEST (national company) Azamat Kozhanov and the management of the Chinese company.
Currently, SHIJIXIANGHE, together with Dalian Hesheng Holdings, is searching for a suitable region for the subsequent implementation of the project in Kazakhstan. The annual volume of wheat processing at the plant is expected to be at the level of 1 million tons.
The initiative is unique since wheat bran can be utilized as animal feed, fertilizer, and starch for sophisticated processing. Starch will be used to make other high-value foods.
The manufactured products are planned to be supplied primarily to China and other countries.
In addition, during the meeting, the parties discussed the high significance of the project for the agro-industrial complex of Kazakhstan, which in turn will significantly increase the level of deep processing of agricultural products in the country.
Meanwhile, the volume of trade turnover between Kazakhstan and China amounted to $14.1 billion from January through June 2024. The volume of trade turnover increased by 3.8 percent compared to the same period in 2023 ($13.6 billion).
At the same time, exports to China for the above period amounted to $7.32 billion, which is 16.6 percent more year-on-year ($6.3 billion). In addition, imports from China from January through June 2024 decreased by 7.2 percent and amounted to $6.8 billion. From January through June 2023, imports amounted to $7.3 billion.