Metallurgy, Chemistry, and Mechanical Engineering: Chinese Companies Intend to Implement a Series of New Projects in Kazakhstan
During the visit to the People's Republic of China, the leadership of "NC "KAZAKH INVEST" JSC held bilateral meetings with several leading Chinese companies. During these meetings, the parties discussed the possibilities of implementing investment projects on the territory of the Republic of Kazakhstan.
Deputy Chairman of the Board of KAZAKH INVEST, Zhandos Temirgali, highlighted the investment opportunities in Kazakhstan, government support measures for investors, and noted that the portfolio of Kazakhstan-China investment cooperation consists of 52 projects with a total value of approximately $21 billion in priority sectors of the economy.
"Over the past year, economic relations between the countries have been rapidly developing, as evidenced by the increased activity of Chinese companies in Kazakhstan. We see potential in various sectors, from the development of agriculture to mechanical engineering and the use of renewable energy sources," noted Z. Temirgali.
In turn, the management of the Chinese transnational mining company "Zijin Mining Group Co." outlined plans to invest in the development of deposits of non-ferrous and noble metals in Kazakhstan. The Chinese company has already established a working group to study the implementation of projects. It's worth noting that "Zijin Mining Group Co." is carrying out over 30 major mining projects in 12 countries worldwide, as well as in 14 regions of China; the company's capitalization exceeded $47 billion in 2022.
Also, during the meeting with the management of "China Nonferrous Metal Industry’s Foreign Engineering and Construction Co" (NFC), discussions were held regarding the expansion of their current activities in Kazakhstan. Currently, NFC, in collaboration with a Kazakh company, is conducting a feasibility study for the construction of a copper smelting plant with a capacity of 300 thousand tons of cathode copper per year. The project involves the processing of raw materials from the Bozshakol, Aktogay, Vostoktsevmet mines, as well as other deposits in Kazakhstan.
During the meeting with "China National Chemical Engineering Group Corporation," specific investment projects in the chemical and petrochemical industries were proposed for implementation by the Chinese side. The corporation's activities span more than 80 countries worldwide. The company has implemented the world's largest projects for the serial production of methanol and a chemical complex for the production of ethylene and polyethylene.
Representatives of the non-profit organization China Overseas Development Association (CODA), which assists Chinese companies in launching projects outside of China, shared the near-term plans of Chinese companies for localizing production in Kazakhstan. In particular, "Hainan Ougang Investment Co., Ltd" was offered by KAZAKH INVEST to implement a project for the construction of a steel plant in the Kostanay region.
During the meeting with "China Chamber of International Commerce Fujian Free Trade Association," an association that unites the largest companies in Fujian province, a memorandum of cooperation was signed. The companies in the province have extensive experience in processing rare and rare-earth metals, which is why they were proposed to implement projects for the development of RM and REE for production, including batteries.
Overall, during the visit, negotiations were held with more than 20 Chinese companies, and the Kazakh delegation visited a number of enterprises in the mechanical engineering and metalworking industries.
These meetings demonstrate the interest of Chinese businesses in cooperation with Kazakhstan, as well as the readiness of both countries to work together in implementing investment projects.