756 million US dollars: Chinese enterprises are building a steel plant in the Jambyl region of Kazakhstan.
Kazakhstan International News Agency reported that according to the government press office, a major investment project for constructing a complete cycle metallurgical complex is being implemented in the Silk Road Industrial Park (Jibek Joly Special Economic Zone) of the Jambyl region. The investor is Fujian Hengwang Investment Co., Ltd. of China.
Currently, the investment agreement has been signed, and the allocated land is actively undergoing construction installation preparations. The industrial park has access to necessary infrastructure such as railways, power lines, and natural gas.
During the construction period, 1,500 temporary jobs will be created, and after the factory becomes operational, it will provide more than 2,500 permanent positions. The investment company plans to hire at least 90% of its workforce from local residents.
The project will be implemented in two phases, planned to continue from 2025 to 2029. The factory is expected to start production in 2027, followed by two years of capacity expansion. The total investment amount reaches 756 million US dollars. The new factory will use modern hydrogen-based technology to process iron ore, with an annual steel production capacity of up to 3 million tons.
This will be the first metallurgical complex in Kazakhstan to use hydrogen-based blast furnaces, fully complying with the requirements of the industry's "green" transformation.
Deputy Chairman of Fujian Hengwang Investment Co., Ltd., Li Zhongdong, stated that once the factory operates at full capacity, its products will not only meet the domestic market's shortage of steel demand but also be exported to Central Asian countries, Ukraine, and European nations.
"After completion, our products will completely bridge the gap in Kazakhstan's steel market," he noted. "While meeting domestic needs, we will also contribute to the development of Kazakhstan's economy and export potential by supplying products to neighboring countries." He added, "The project will not only promote the development of manufacturing but also inject vitality into the growth of related industries such as logistics, mining, and even tourism and catering."
The implementation of the project will also have a positive impact on the social and economic development of the region. According to commitments, Fujian Hengwang will construct residential complexes in Chuguchik and continue to support social initiatives, including regional greening, kindergarten construction, and city park development.
Fujian Hengwang Investment Co., Ltd. is one of the leading enterprises in the global industrial production sector, currently managing three metallurgical enterprises in China, controlling an annual steel production capacity of up to 23 million tons. Its total investment projects exceed 6 billion US dollars. In Kazakhstan, it has registered a subsidiary, "Yonggang Central Asia Iron and Steel Co., Ltd.," and obtained the status of a special economic zone participant.
It is worth noting that in April this year, Kazakhstani Prime Minister Bolatbek Beketayev learned about the implementation of a new batch of large investment projects in the Silk Road Industrial Park during his visit to the Jambyl region.
Original article: https://www.toutiao.com/article/1835155335510340/
Disclaimer: This article represents the views of the author alone.