Kazakhstan, China to sign agreement on construction of sheet glass plant

Photo: Kazakhstan, China to sign agreement on construction of sheet glass plant 
 / Kazakhstan

Kazakhstan, Astana, Sept 7 /Trend D.Mukhtarov/

Within the framework of state visit of the Chinese leader Xi Jinping in Astana, Kazakhstan and China will sign on Saturday an agreement on construction of sheet glass producing plant, Baiterek National Management Holding's press service told Trend.

Qinhuangdao Yaohua Glass Machine Manufacture Co, which is the leader in production of sheet glass in China, will invest the construction. The company's share in country's total production amounts to nearly 20 percent.

The project's total cost is $124.9 million, and it will be realized in 2013-2015.

The current capacity of Kazakh market of sheet glass is 174,000 tons.

According to Baiterek, during the constituent meeting of Kazakh-Chinese business council, the national holding Baiterek will also sign a memorandum on cooperation with China's Development Bank and Chinese Exim Bank.

"The sums in the cooperation projects are estimated at $3 billion and $5 billion correspondingly," the holding's representatives said on the sidelines of the meeting.

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