Kazakhstan eyes launch of 9 regional projects by year-end (Exclusive)

Baku, Azerbaijan, Nov. 5

By Rashid Shirinov – Trend:

By the end of 2018, nine projects totaling 167.1 billion tenge, which will create 1,418 jobs, are planned to be implemented in the East Kazakhstan region, head of the Entrepreneurship and Industrial-Innovative Development Administration of the region Yerzhan Shurmanov told Trend.

He noted that the most significant project of the current year is the Bakyrchik mining and processing complex with a capacity of 2 million tons of ore per year.

"The complex with a total cost of 133.8 billion tenge was put into operation in June this year. In September, the enterprise produced 1 ton of gold concentrate," Shurmanov said.

The head of administration also noted that 70 investment projects worth 892.5 billion tenge, which will create 14,500 jobs, are being implemented as part of the Business Support Map of East Kazakhstan region. From 2010 to 2017, as many as 41 projects totaling 572.1 billion tenge were put into operation.

"A significant project introduced in 2017 is the construction of Aktogay mining and processing plant. This is a major project worth 364 billion tenge aimed at the development of mining production," said Shurmanov.

He also added that within the framework of the State Program of Industrial-Innovative Development with the participation of Australia, Russia, China and Iran, five projects in the fields of energy, engineering and agriculture worth 85.4 billion tenge will be implemented in the East Kazakhstan region in the next two years.

East Kazakhstan is one of the leading industrial and agricultural regions of the country with huge economic potential. The main sectors of the region's economy are industry, trade, agriculture, transport and warehousing.

The official exchange rate on November 5 is 371.31 KZT/USD.

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Follow the author on Twitter: @ShirinovRashid

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