Chinese company to invest $8 billion in coal processing in Kazakhstan
Astana, Kazakhstan, Nov.29
By Daniyar Mukhtarov - Trend:
Chinese company Tsinghua intends to invest around $8 billion in coal processing in Kazakhstan, Deputy Chairman of the board of KAZNEX INVEST JSC, Kairat Karmanov said on Nov.29 at a press conference in Astana.
"The Chinese company has held several meetings with the leadership of Karaganda province where it will develop one of the coal fields. The development capacity is around six million tons of coal per year," Karmanov said.
According to Kairat Karmanov, it is assumed that in the first year, the Chinese company will invest $2 billion and later $6 billion.
"Currently, the issues of the 'road map' of the project and the working group are being developed and by late 2013 all necessary documents will be signed. The construction of the coal processing plant in Karaganda province will begin next year," Karmanov said.