New investor of ArcelorMittal Temirtau announced

Kazakhstani businessman Andrey Lavrentiev became a new investor of ArcelorMittal Temirtau, Kazinform News Agency quotes minister of industry and construction Kanat Sharlapaev as saying at a briefing in the Government today.

Andrey Lavrentiev is the Chairman of the Board of Directors and shareholder at Allur Group of Companies.

As per the terms of the deal, he has to invest 3 billion US dollars in modernization of the plant and mines.

Sharlapaev added that the company may get its original name Qarmet. 

On October 28, 2023, at 02:33 am, an explosion occurred in the Kostenko coalmine developed by  ArcelorMittal Temirtau. 252 people were underground at the moment of the blast. 205 miners were brought to the safety, while 46 died at the scene.

The Prosecutor General’s Office launched a criminal investigation into the accident allegedly caused by methane blast.

President Kasym-Jomart Tokayev assigned to halt investment cooperation with Arcelor Mittal Temirtau.