Kazakhstan, China ink deals worth over $5B

Kazakhstan, China ink deals worth over $5B

Baku, Azerbaijan, Sept. 2

By Elena Kosolapova - Trend:

During a recent visit of Kazakh President Nursultan Nazarbayev to China, Kazakhstan's Samruk-Kazyna signed agreements with Chinese companies in areas of transport, energy, nuclear, metallurgical and chemical industries.

The agreements are worth a total of $5.1 billion, said the press service of Samruk-Kazyna September 2.

In particular, the Kazakhstan Railways (Kazakhstan Temir Zholy) and the Jiangsu Provincial People's Government signed a framework agreement on strategic partnership in development of the port in the Chinese city of Lianyungang and the 'Khorgos - Eastern Gates' special economic area in Kazakhstan.

Under the document, the parties will jointly implement projects in areas such as transportation logistics, carriage of route trains, and construction of terminal and warehouse infrastructure in the 'Khorgos - Eastern Gates'.

Kazakhstan's Masalsky Mining and Processing Plant LLP, a subsidiary of the Tau-Ken Samruk National Mining Company JSC, and the China National Corporation for Technical Import and Export agreed to construct a mining and metallurgical plant with a capacity of one million tons of steel per year.

The plant is to be built as part of the 'Masalsky' iron-ore deposit in the Akmola province of Kazakhstan.

Kazakhstan's Samruk-Energo, the Development Bank of Kazakhstan and the China State Development Bank decided on the main terms for financing a project for construction of a wind farm in Kazakhstan's Shelek Corridor with a 60 MW capacity expandable to 300 MW.

China Development Bank will provide a loan of $120 million for the development of green energy in the Almaty region, while the Development Bank of Kazakhstan will provide $35 million for it.

Kazakh national atomic company Kazatomprom has signed an agreement with the CNEIC (China Nuclear Energy Industry Corporation) on the transit of uranium products through the territory of China to the United States and Canada. This will allow the company to diversify its supply routes of uranium products.

United Chemical Company LLP signed an agreement on financing and implementation of the project "Production of glyphosate and phosphorus trichloride" in Zhambyl region of Kazakhstan. Thus, the Chinese HUALU company will deal with the joint implementation of the project within the framework of the signed documents, and China Development Bank will provide $100 million to establish production.

Kazakh KazMunaiGas - Processing and Marketing JSC and China Kingho Energy Group signed an agreement to establish a joint venture - Karaganda CCI LLP. The company will become the operator of the project "Construction of the complex on processing of coal in the Karaganda region" in Kazakhstan. The purpose of the project is the introduction of new technologies to produce synthetic liquid fuel from coal.

These business agreements significantly expand cooperation of the Samruk-Kazyna group of companies with China in the non-oil sectors, thus contributing to the diversification of the Kazakh economy.

Edited by CN

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Follow the author on Twitter: @E_Kosolapova

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