Chinese and South Korean companies are said to plan to invest in a recently opened special economic zone, the Taraz Chemical Park, which was initiated by the United Chemical Company.
Taraz chemical park will be located 15 kilometres from Shu in southern Kazakhstan’s Zhambyl Region. Chief Manager of the Technical Development Office of the United Chemical Company Timur Ualiyev noted that the location was chosen because of Zhambyl’s vital role in Kazakhstan’s chemical industry.
At least 16 new chemical manufactuing centres will be built in the park. They will be worth $2.7 billion. The new chemical enterprises will create 2,400 jobs.
According to Managing Director of the Economic Zone Gabdi Bekbautov, Taraz Chemical Park will begin operations in 2017. However, two state-owned corporations have already joined the project. Park administration is also leading a dialogue with European partners on possible cooperation. Those involved in the special economic zone will be exempt from customs duties and other charges. Privileges will be granted for 25 years. The export-import process is going to be simplified as well.
“This zone is going to be enclosed by a special sanitary area. Every possible safety and security concern will be considered in the park’s construction. We will also build a firehouse in the park,” said Bekbautov.
A new road up to the enterprise, as well as a 6.4-kilometre long railway will be built in the future. The Tasotkel Reservoir will supply the complex with water.
It was also announced that Taraz Chemical Park will produce rubber and plastics, non-metallic mineral products, fertilisers and other kinds of chemical raw materials. The project was approved by a presidential edict in 2012.