ASTANA – The Investment Promotion Council (Investment Headquarters) held a meeting on Jan. 14 to review and approve the main terms of the investment agreements aimed at modernizing key enterprises, generating new employment and fostering innovative production.
New projects demonstrate Kazakhstan’s confident development of its industrial potential. Photo credit: Prime Minister’s press service.
The participants of the meeting, chaired by Kazakh Deputy Prime Minister Roman Sklyar, approved the conclusion of the investment agreement with Qarmet metallurgical plant. In 2024, the company, as part of fulfilling its investment obligations, invested $1.3 billion in the modernization of the plant and the development of infrastructure to create high-value added clusters. At the same time, as part of the long-term strategy, the company plans to allocate $3.5 billion for the implementation of investment projects by the end of 2028. The modernization of the Qarmet plant will be an important step in the socio-economic development of the region.
According to the Prime Minister’s press service, the conclusion of the investment agreement for the construction of a plant for the production of oriented strand boards and laminated wood chipboards of Ultradecor Trading Kazakhstan LLP in the North Kazakhstan Region was also approved. The implementation of the project will create a multiplier effect for the development of the manufacturing industry and will bring nearly 82 billion tenge (US$155.3 million) of investments to the economy.
A project to build a water pipeline with a cascade of hydroelectric power plants on the Ugam River in the Turkistan Region was also approved. The total investment in the project is around 190 billion tenge (US$360 million). The goal of the project is to provide quality drinking water to nearly 1 million residents of the Turkistan Region. The project is also aimed at covering the electricity deficit in the region, improving sanitary and hygienic conditions and the overall quality of life of the local population.
These initiatives demonstrate Kazakhstan’s confident development of its industrial potential, with a focus on introducing modern technologies, creating high-paying jobs, and increasing the country’s economic competitiveness.
