Chinese Companies Interested In Implementing Projects in Kazakhstan
Chairman of the Board of Directors of NC KAZAKH INVEST, Yerzhan Yelekeyev, held a meeting with the Chairman of the China Overseas Development Association (CODA), He Zhenwei, and the Chairman of Jiaxin International Resources Investment Limited, Liu LiQiang. During the meeting, the parties discussed current issues of Kazakhstani-Chinese cooperation.
Yerzhan Yelekeyev emphasized the great potential for the development of relations between the parties in various economic sectors. In particular, the Head of the national company proposed considering the possibility of implementing projects in the coal chemical industry, taking into account the large coal reserves in Kazakhstan.
In turn, He Zhenwei noted the importance of bilateral strategic partnership with KAZAKH INVEST, emphasizing that since the beginning of 2022, Chinese companies' interest in implementing projects in Kazakhstan has noticeably increased. According to him, the association is ready to assist Chinese investors in launching projects in priority areas of Kazakhstan's economy.
The Chairman of Jiaxin International Resources informed about the progress of the project for the deep processing of tungsten at the Boguty deposit in the Almaty region. At the first stage, the company plans to establish the processing of tungsten ore into a 65% tungsten concentrate. The second stage of the project will focus on the production of ammonium paratungstate and the deep processing of tungsten carbide powder. According to him, the total investment volume will be $450 million, creating over 1000 jobs.
In addition, Liu LiQiang noted the work of the Investment Headquarter, thanks to which resolved personnel issues hindering the implementation of the project in the shortest possible time on February 2 of the current year.
Representatives of CODA and Jiaxin International Resources Investment Limited reported that they pay increased attention to the social aspect in the localization of production. Thus, within the framework of the project, a laboratory will be established in collaboration with the Beijing Mining and Metallurgical Scientific and Technical Corporation and the Kazakh National University named after K. Satpayev, where Kazakh specialists will undergo training.
Reference:
China Overseas Development Association (CODA) is an all-China public organization. The Association provides support and assistance to Chinese companies in entering foreign markets to develop their activities and participate in international cooperation in the field of joint development of the One Belt, One Road initiative.
Jiaxin International Resources Investment Ltd. is a world leader in the extraction of tungsten mineral resources, specializing in the entire tungsten industry chain, including exploration, mining, ore processing and smelting of tungsten mineral products.
