South Korean steel company SAC invests $360 million into the construction of a metal processing plant for the production of ferroalloys and steel in Ekibastuz, QazMonitor reports citing the press service of Pavlodar regional council.
Mineral Product International will be able to produce 160 thousand tons of ferroalloys per year with up to 99.9% emission control. The finished product will be supplied to the EU, Asian, and U.S. markets.
Abylkair Skakov, the council head, explained that the first export-oriented project will be the first of the metallurgical cluster in the Pavlodar region.
“The metallurgical cluster will include a secondary metal processing plant, steel and ferroalloy production facilities,” said Skakov. “By 2025, their implementation will increase the volume of the manufacturing industry of the region by 57%. It will provide about 3,000 local residents with permanent jobs.”
According to plans, the region will be able to supply more than 3 million tons of steel products to the domestic market of the country with a 70% reduction in imports every year. The company's shareholder Sergey Kan noted that the Pavlodar region has all conditions for the development of the metallurgical industry.
Kan added: “The government creates a favorable environment for investors in the form of investment preferences and the ability to install all necessary infrastructure. The availability of raw materials and qualified specialists, as well as energy capacities of the region, were an important factor in our choice of Pavlodar Region.”
Generally speaking, the volume of products manufactured in the region reached 1.4 trillion tenge, which is the second largest in Kazakhstan. The same position is held by non-resource exports, which show a 1.4-fold growth. A total of 143 major investment projects worth 2 trillion tenge are to be implemented by 2025 with the creation of about 10,000 new jobs.