$139 million in metallurgy, renewable energy projects launched in Karaganda Region

NUR-SULTAN – Two projects on metallurgy and renewable energy worth $139 million were launched in the first half of the year in the Karaganda Region with Kazakh Invest support, reports Invest.gov.kz.

Photo credit: invest.gov.kz.

Four more Kazakh Invest-supported projects worth $438 million are under construction and installation, two of which will be completed this year. Among the projects are Linde Group’s industrial gas production plant and Solarnet’s renewable energy project, which are expected to create 1,800 jobs in the region.

“Since the beginning of the year, nine new investment projects worth 280 billion tenge (US$728.28 million) on renewable energy, chemistry, manufacturing, metallurgy and agriculture are under implementation. Manufacturing and mining are our priority sectors. We will also focus on the logistics and food industries,” said Karaganda Region Deputy Akim (Governor) Almas Aidarov.

Kazakh Invest Chief Executive Officer Baurzhan Sartbayev discussed these upcoming projects and investment attraction more broadly during his July visit to the Karaganda Region, discussing providing structure and modernising production under the Business Roadmap 2020 programme during his visits to production plants of industrial explosives and ball valves in the region’s Saryarka special economic zone.

Photo credit: invest.gov.kz.

Fixed capital investment increased 25 percent in the Karaganda Region last year, and the aim is to attract 550 billion tenge (US$1.43 billion) of investment by the year’s end. Kazakh President Kassym-Jomart Tokayev has called for greater investment attraction to Kazakhstan’s agriculture, in particular, over the next three years. Accordingly, Kazakh Invest will support projects on the production of starch, confectionery, meat and dairy.

“An entire cluster (of production) can be developed within these areas,” said Sartbayev during his visit to the region. “For instance, by-products of potato starch production can become excellent feed for livestock. It is thus intuitive to establish a feedlot or dairy farm near such a plant.”

Kazakh Invest national company promotes the sustainable socioeconomic development of Kazakhstan by attracting investment to priority sectors of the economy and supporting investment projects. It is implementing 82 projects worth $15.2 billion, developing 99 projects worth $34 billion and recently implemented four projects worth $217 million, all of which created more than 45,000 jobs. Fifteen of these 185 projects, worth $2.5 billion, are in the Karaganda Region.