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Kazakhstan's ERG eyeing more investments into future projects

Business Materials 14 May 2021 12:37 (UTC +04:00)
Kazakhstan's ERG eyeing more investments into future projects

BAKU, Azerbaijan, May 14

By Nargiz Sadikhova - Trend:

Eurasian Resources Group (ERG) is planning to invest $5.9 billion in the future investment projects, Trend reports citing the press office of Kazakh president.

The topic was discussed during the meeting between Kazakhstan’s President Kassym Jomart Tokayev and ERG shareholders Alexander Mashkevich and Patokh Chodiev.

Mashkevich and Chodiev noted during the meeting that over 25 years of ERG’s activity the company invested over $13 billion in the investment projects, and social expenditures exceeded $1 billion. The company paid 221 billion tenge ($51.8 million) worth of taxes in 2020.

During the meeting, the parties also discussed that issues of implementing new investment projects. In the near future, ERG plans to invest $5.9 billion in new projects.

Eurasian Resources Group (ERG) is a leading diversified natural resources group with integrated mining, processing, energy, logistics, and marketing operations. The Group operates in 15 countries and is a major employer in the industry.

In 2019, Eurasian Resources Group celebrates its five-year anniversary and the Group also marks 25 years of its business in Kazakhstan.

ERG is the world’s largest high-carbon ferrochrome producer by chrome content and one of the largest producers of alumina and iron ore products in Eurasia. It is the only producer of high-grade aluminium in Kazakstan. The Group is also among the principal copper and cobalt producers.

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