Kazakhstan’s Yonggang Central Asia Iron and Steel (a subsidiary of China’s Fujian Hengwang Investment) plans to build a steel plant in the Jibek Joly Free Economic Zone (SEZ) in Kazakhstan’s Zhambyl region.
The expected investment volume is 473 billion tenge ($1.05 billion). The plant’s capacity will be up to 3 million tons of steel per year.
The first phase (up to 1 million tons of steel per year) is scheduled to launch in 2027, and the second until 2029.
It is expected that local raw materials mined in the Karaganda, Kostanay, and Ulytau regions will be used in production.
Plans to build a steel plant were first announced in February 2025.
At the time, the project investment volume was expected to be $1.2 billion.
The company began infrastructure and preparatory work on the project in April 2025. (Logistan)