QazSpecSteel plans to invest $587 million in the construction of a plant to produce steel billets with a capacity of 800 thousand tons in Aktobe.
Last week, the regional authorities signed a memorandum of understanding with the company.
The timeframe of the construction has not been revealed.
When the design capacity is reached, the plant will employ 1.5 thousand people.
The project will provide Kazakh manufacturers with blooms and billets for the production of rails, railroad wheels and rebars, thus decreasing billets and rebars imports by $990 million per year. (Ukrainian metal)