The Kazakh government has approved 17 major projects valued at $31 billion aimed at boosting the country’s exports
The Kazakh government has approved 17 major projects worth 15 trillion tenge (US$31.1 billion) to form high-value-added clusters, the Prime Minister’s press service reported on Aug. 28.
The 17 major projects approved by the Kazakh government aim to significantly boost the country’s export capacity and economic growth. Key details include:
- Job Creation: Over 26,000 new jobs.
- Export Growth: An increase of six trillion tenge ($12.4 billion) in exports.
- Import Substitution: Exceeding 1.5 trillion tenge ($3.1 billion).
Key Projects:
- Steel Production: Increase from 3 to 6 million tons annually with 100% raw material base for steelmaking.
- Oil Refining: Rise from 18 to 24 million tons per year.
- Polyethylene and PET Production: Facilities to produce up to 1.25 million tons of polyethylene and 735,000 tons of PET annually.
- Urea Products: New lines with a capacity of up to 577,000 tons per year.
- Automobile Production: Localization increase from 10% to 50%, with two plants producing 160,000 cars annually.
- Tourism Cluster Development: Promoting business and investment activities.
- Food Products: Boost in the export of high-value-added products like gluten, starch, glucose, and fructose.(Source:astanatimes)
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