The management of M/S TIRUMALA BALAJI ALLOYS P. LTD (India) arrived in Taraz on a working visit, QazMonitor reports citing the press service of Kazakh Invest.
Akim of Zhambyl region Nurzhan Nurzhigitov held a meeting with the delegation headed by Managing Director Manish Rungta.
Regional Director of Kazakh Invest in Zhambyl region Arnold Gering, Project Manager of Task Force unit of Kazakh Invest Bauyrzhan Aitkulov, management of Entrepreneurship Department, management of Taraz Industrial ZoneW and others took part in the last meeting.
The parties discussed issues of implementation of a large investment project - the construction of a ferroalloys production plant. The cost of the project is $125 million. The launch of the plant should create 450 new jobs and help improve the export potential of the region. Produced products are planned to be delivered both to the domestic market of Kazakhstan and to the markets of neighboring countries.
They signed several documents on cooperation. Akimat of Zhambyl region and M/S TIRUMALA BALAJI ALLOYS P. LTD. signed a Memorandum of Cooperation. Agreements on cooperation were signed between the Indian company and Fincraft Resources, as well as between the private company TB Alloys Kazakh Limited and Tas Market LLP.
The Indian company is currently developing a feasibility study of the investment project and design estimate documentation.