China-Kazakhstan Cooperation: Chinese Enterprises Plan to Invest in Shymkent to Build a Factory and Promote Localized Steel Pipe Industry
Kazakh International News Agency - According to a statement from the Ministry of Foreign Affairs, the Chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan, Askar Vospayev, recently met with Li Xiangdong (translated), Deputy General Manager of Tianjin Youfa Steel Pipe Group Co., Ltd., and Sang Wenxu (translated), Deputy General Manager of Hong Kong Friend International Cooperation Company.
During the meeting, both sides discussed an investment project planned to be implemented in Kazakhstan, aiming to achieve localized steel pipe production.
The project plans to build a longitudinal seam steel pipe manufacturing plant in the southern economic zone of Shymkent. The total investment is expected to exceed 70 million U.S. dollars, creating 283 jobs. The factory's designed annual capacity is 200,000 tons, and the products will be widely used in key industries such as oil and gas, construction, housing utilities, and infrastructure development.
The project focuses on replacing imported products with domestic ones to meet the needs of the Kazakhstani market. According to statistics, Kazakhstan imported 428,000 tons of pipe products in 2024, with a total value of 487 million U.S. dollars.
Vospayev introduced in detail the relevant policies for investment support in Kazakhstan, including investment incentive measures, tax and customs reduction policies, as well as institutional advantages and practical convenience for implementing projects in the economic zone.
Li Xiangdong stated that the company highly values the Kazakhstani market and regards it as an important partner in the region.
Building a steel pipe factory in Shymkent is considered an important measure to promote the localization of strategic industries and strengthen Sino-Kazakh industrial cooperation. Both sides expressed their commitment to actively advancing the implementation of the project.
Original: https://www.toutiao.com/article/1839543136131144/
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