Germany intends to invest in Irtysh chemical-metallurgical plant

UST-KAMENOGORSK. KAZINFORM - Governor of East Kazakhstan region Daniyal Akhmetov has held a meeting with the leadership of "ICMP Dinatron" company which is interested in reconstruction, development and launching of commercial operation of Irtysh Chemical-Metallurgical Plant located in the village of Pervomaisky, Shemonaikha district.

Representatives of the company showed serious intentions in the restoration of the Irtysh plant, its reconstruction and modernization. At the roundtable Akhmetov noted that the region will support the proposal in the framework of national legislation. According to Erich Schwager, chairman of the company, in the first phase the company is ready to invest in the project €52 million, with subsequent increase to over €300 million. About 250 people will get new jobs. As reported in the Governor's office, the plant will mainly produce niobium bullions. The product is of high demand in China, Russia and Europe. In February 2008 the plant's operation was suspended due to lack of funds needed for purchasing raw materials.