ASTANA, Uzbekistan, May 23. The governor of Kazakstan’s Shymkent Gabit Syzdykbekov, and Chairman of the Board of Fujian Hengwang Investment Co., Ltd. Liu Junming, signed a memorandum on the construction of a metallurgical plant in Shymkent, Trend reports.
According to the Shymkent governor's office, the sides plan to build the plant on the territory of the Temir industrial zone.
The company will invest $1.7 billion in the city's economy and create 1,000 new jobs in the course of the project. The three-phase metallurgical plant will be built within five years. The annual production capacity of the plant will be five million tons. The company will use the world's most advanced technologies to ensure environmental safety.
At the same time, the company’s investors noted that with the commissioning of the plant, it will be possible to realize a number of other projects.
Meanwhile, the volume of trade turnover between Kazakhstan and China amounted to $4.36 billion from January through February 2024. The volume of trade turnover increased by 25 percent compared to the same period in 2023 ($3.48 billion).
At the same time, in the structure of trade turnover, exports to China for the above period amounted to $2.26 billion, which is 53 percent more than January–February 2023 ($1.47 billion).
In addition, Chinese imports rose 4.5 percent to $2.1 billion in January–February 2024. From January through February 2023, imports amounted to $2 billion.