BAKU, Azerbaijan, September 30. The Development Bank of Kazakhstan and Aluminium of Kazakhstan JSC signed an agreement on the preliminary terms of financing for an investment project to modernize the Pavlodar Aluminum Plant, the bank said.
The agreement was signed during President Kassym-Jomart Tokayev’s official visit to Germany, which began on September 28.
“The ESG project provides for the installation of modern disc filters and vertical calcination furnaces to significantly reduce atmospheric emissions, as well as the creation of a rare metals production complex. These metals are used in semiconductor production, optoelectronics and medical diagnostics,” the bank said.
The project will create conditions for expanding the production of primary aluminum. The plant’s capacity is planned to be increased to 1.7 million tons of alumina per year.
Aluminium of Kazakhstan JSC is part of the Eurasian Resources Group (ERG) holding and is the only company in Kazakhstan producing alumina, a raw material used in aluminum production. The company produces alumina from bauxite and limestone extracted at mines in Kostanay and Pavlodar regions.
The company’s assets include the Pavlodar Aluminum Plant, CHPP-1, the Krasnooktyabrskoye Bauxite Mining Administration in Kostanay Region and the Keregetas limestone mine in Pavlodar Region.
Meanwhile, President Kassym-Jomart Tokayev said during expanded talks with German Chancellor Friedrich Merz on September 29 that Germany's total investment inflow into Kazakhstan reached $8 billion over the past 21 years. In 2025, mutual trade reached $4.5 billion, increasing by 13.4%.
