ERG not to fire its employees - Machkevitch

ASTANA. KAZINFORM Yesterday at the meeting of President Nursultan Nazarbayev with domestic entrepreneurs in Akorda, Chairman of the Board of the Eurasian Resources Group (ERG) Alexander Machkevitch thanked him for the measures taken on tenge rate adjustment and support of ore-mining industry of the country under the new economic policy.

"Today's decision is important for all the people, for thousands of enterprises, small and medium businesses, food companies, machine building sector etc. Under these conditions, we pledge today, that none of our employees will be fired. We promise to increase the purchase of local goods and services threefold and open new productions," Machkevitch said.

According to him, presently the ERG is holding negotiations with China on implementation of three large projetcs worth USD 2 bln. These are the construction of the next stage of the new aluminum plant, manufacture of direct-reduced iron and building two energy blocks of Aksu Thermal Power Plant.

"In this regards, we are asking you, Mr. President, to support these projects during your visit and we will be able to sign these agreements in Beijing," Mashkevich said. More than 70 thousand people are working at the ERG enterprises to date, he added. As earlier reported, the Government started the implementation of a new inflation-targeting economic policy yesterday.