A Kazakh delegation led by Deputy Prime Minister of the Republic of Kazakhstan Serik Zhumangarin visited China, where they held meetings with the leaders of major Chinese companies. The delegation included more than 250 representatives from government agencies and the private sector, including the Chairman of the Board of JSC "NC "KAZAKH INVEST" Yerzhan Yelekeyev, DKnews.kz reports.
During the visit, S. Zhumangarin and Y. Yelekeyev met with the leadership of CITIC Construction to discuss the project of constructing a deep grain processing plant, preliminarily in the Almaty region. CITIC Construction is one of China's leading construction and engineering companies, with a turnover of $2.5 billion. In 2023, it implemented a similar project in Belarus. In Kazakhstan, the company plans to implement the project in several stages with a total capacity of up to 1,000,000 tons of wheat per year. The production is expected to include products such as fructose syrup, crystalline fructose, allulose, crystalline dextrose, sodium gluconate, gluten, and feed. The project cost may exceed $1 billion, and its implementation will create about 2,000 jobs.
"We are ready to provide comprehensive support for the implementation of your project. Deep grain processing is one of the priority and promising areas in the strategic development of the economy of the Republic of Kazakhstan. Our country is one of the largest wheat producers in the world and is ready to contribute to ensuring food security in the region, as the area of land for cultivation and livestock grazing exceeds 200 million hectares" Yerzhan Yelekeyev
Representatives of CITIC Construction thanked the Kazakh side for the meeting and expressed hope for the successful implementation of the promising investment project.
Furthermore, Y. Yelekeyev held a meeting with the leadership of Fuxin Casting Pipe Co. Ltd. from Shanxi Province, which produces up to 500,000 tons of cast iron and cast pipes per year. Currently, the company is considering implementing a project for the production of rebar steel and steel billets with a capacity of 1 million tons per year. The total investment volume will be $160 million, creating about 600 jobs. The Chairman of the Board introduced the company's representatives to the investment climate of Kazakhstan and the potential for project development in the mining and metallurgical complex and manufacturing industry, highlighting the existing government support measures and emphasizing that Kazakhstan has large raw material reserves for future production.
Finally, Y. Yelekeyev met with the leadership of Shandong Jinyimeng Group Co. Ltd., a leading producer of ethyl alcohol, acetic acid, and other coal chemistry products in China. The Chairman of the Board informed the company's representatives about the potential of the sector in Kazakhstan, including coal reserves estimated to last 300 years, and that the potential for project implementation could exceed $25 billion. Following the meeting, both sides expressed their readiness for further development of bilateral relations and technology transfer.
