The Kazakh government has approved 17 major projects valued at $31 billion aimed at enhancing export capabilities
The Kazakh government has approved 17 major projects worth 15 trillion tenge (US$31.1 billion) to form high-value-added clusters.
The Kazakh government has endorsed 17 major projects valued at $31 billion aimed at significantly boosting exports and advancing economic growth. These initiatives are projected to create over 26,000 jobs, increase exports by six trillion tenge ($12.4 billion), and facilitate import substitution exceeding 1.5 trillion tenge ($3.1 billion).
Key components of these projects include:
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Steelmaking: Establishing facilities to process hot briquetted iron, aiming for a production volume of up to two million tons and increasing annual steel production from three to six million tons. Oil refining volumes are expected to rise from 18 to 24 million tons per year.
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Polyethylene Production: Setting up facilities to produce up to 1.25 million tons of polyethylene and 735,000 tons of polyethylene terephthalate annually.
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Urea Production: Building new production lines with a capacity of up to 577,000 tons per year.
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Automobile Production: Increasing the localization of automobile production from 10% to 50%, with two plants set to manufacture 160,000 cars annually.
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Tourism: Supporting the development of tourism clusters and increasing the export of high-value-added food products, such as gluten, starch, glucose, and fructose.
These projects aim to enhance Kazakhstan’s manufacturing capabilities, upskill the local workforce, and foster stronger partnerships with domestic suppliers, while also contributing to the growth of the tourism sector and increasing the export of value-added products.(Source:astanatimes)
