Chinese company starts ambitious worth over $1bln project in Shymkent

Chinese company starts ambitious worth over $1bln project in Shymkent
Photo credit: press service of Shymkent akimat

A memorandum on building a metallurgical factory in the city was signed by Liu Yunmin, Chairman of the Board of Fujian Hengwang Investment and akim of Shymkent Gabit Syzdykbekov. The memorandum was finalized within the parameters of the agreements determined after the prior meeting, Kazinform News Agency Correspondent reports citing press-service of Shymkent’s akimat.

The Temir industrial zone, where a facility is intended to be built, was presented to investors by the head of the metropolitan last week. The corporation plans to create 1,000 new jobs and invest $1.75 billion into the city's economy during the project's execution. The factory has an annual output capacity of five million tons and will be constructed in three stages over a period of five years. The company will protect the environment by utilizing the most cutting-edge technologies available.

Gabit Syzdykbekov expressed gratitude to the management of the corporation for their encouragement of the city and their direct investments in the growth of the industrial sector. He also mentioned that he was prepared to offer complete assistance with project execution, including supplying the required infrastructure. Foreign investors stressed that Shymkent has all the necessary infrastructure in place to draw in investment. They hope to carry out further initiatives if the plant launch goes well.

Chinese company starts ambitious worth over $1bln project in Shymkent
Photo credit: press service of Shymkent akimat

There is also a project underway in Shymkent aimed to build a combined-cycle plant with a 500 MW maximum capacity. The goal of this around $700 million investment project is to offer hot water and high-quality electrical and thermal energy to the city's residents.

Furthermore, a greenhouse complex is being built by the major Turkish corporation Alarko Holding. On a total of 500 hectares, the $650 million investment project will help generate 2,000 new jobs and advance food security and the greenhouse industry by introducing new technology.

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