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.
The Temir industrial zone, where the facility was 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 will have an annual output capacity of 5 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 had all the necessary infrastructure in place to draw in investment. They hope to carry out further initiatives if the plant launch goes well. (Kazinform)