«ArselorMittalTemirtau» will get state support but within law - A. Rau

KARAGANDA. July 17. KAZINFORM - "ArcelorMittal Temirtau" JSC can count on the state support but within the law, this was stated by Albert Rau, First Deputy Minister of Industry and New Technologies.

A. Rau noted that the working visit of Akhmetov, Prime Minister of Kazakhstan, to "ArcelorMittal Temirtau" JSC site occurred not only because of the accident which had happened on June 26. "Although, of course, the Government is concerned about the accident", said A.Rau.

"Here we have the right to understand that despite all the difficulties, the plant modernization program is going on. Though, the external market state is of high importance as we have lost one million ton in the Iranian market. But we have to admit that those rules of material and financial resources that should have been directed to maintain the plant in a working condition were not canceled ", concluded the Vice-Minister of Industry and New Technologies of the Republic of Kazakhstan.

According to him, the working group concluded that the entity should focus twice funds as much as for now on repair and modernization of the equipment. "Approximately USD 100-120 million a year have been spent to bring fixed assets to normal condition, to remove the threat of the enterprise stoppage and we believe that the company needs to develop USD180-200 million annually", said A. Rau.

S.Akhmetov, Prime Minister, proposed to carry out technology audit at "ArselorMittalTemirtau" which will help to bring out reasonable rate of investment.

Albert Rau recalled various mechanisms of state support. "If there are benefits and preferences, they are only within the law. We cannot raise question on allocation investment support".

As previously reported, Serik Akhmetov on Tuesday, July 16, paid a working visit to Temirtau city in Karaganda region. The purpose of the trip was the analysis of situation at "ArcelorMittal Temirtau" JSC metallurgical complex.

"ArcelorMittal Temirtau" JSC is a part of multinational company named ArcelorMittal which is the largest company in mining and metallurgical sector of Kazakhstan. It includes metallurgical plant in Temirtau, 8 coal mines in Karaganda region, 4 iron ore mines in Karaganda, Akmola and Kostanai regions.

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