BAKU, Azerbaijan, June 21. Kazakhstan and Germany have inked multiple agreements amounting to over $1.7 billion during the Kazakhstan-Germany Business Forum, Trend reports.
The event witnessed the presence of the President of Kazakhstan Kassym-Jomart Tokayev and the President of Germany Frank-Walter Steinmeier. The signed documents encompass 23 commercial agreements focused on collaborative projects in various sectors.
Having signed a number of documents, the parties agreed on cooperation in the field of processing of rare earth metals, production of machine tools and agricultural machinery, as well as the textile industry, fisheries, green energy, and etc.
As such, Creada Corporation LLP and HMS Bergbau AG have agreed on investments and the development of a project for the exploration, extraction, and processing of complex rare metal ores in East Kazakhstan. The estimated cost of the project is $200 million.
Furthermore, the Development Bank of Kazakhstan and Landesbank Baden-Württemberg have concluded a Framework agreement on financing investment projects under the insurance coverage of export credit agencies. It is assumed that development institutions will provide export credit guarantees to German companies, as well as to Kazakh companies cooperating with German partners to implement projects in Kazakhstan.
Moreover, the agreement on the construction of an enrichment plant at the Alashpay polymetallic ore deposit was signed by LLP SARYARKA Polymetals and German companies Nordstorm Switzerland AG and DEB Deutsche Erze Beteiligungs AG.