Kazakhstan Approves Key Industrial Investment Projects
Kazakhstan’s Investment Promotion Council convened on Jan. 14 to approve major industrial investment agreements, aiming to modernize enterprises, create jobs, and foster innovation. Chaired by Deputy Prime Minister Roman Sklyar, the meeting highlighted several transformative projects.
The Qarmet metallurgical plant’s $1.3 billion modernization in 2024 was approved, with plans to invest an additional $3.5 billion by 2028, enhancing regional socio-economic development through high-value-added clusters.
Ultradecor Trading Kazakhstan LLP received approval to build a plant for oriented strand boards and laminated wood chipboards in the North Kazakhstan Region. This project will attract 82 billion tenge (US$155.3 million) in investment and significantly boost the manufacturing industry.
A 190 billion tenge (US$360 million) project to construct a water pipeline with hydroelectric power plants on the Ugam River in the Turkistan Region was also approved. The initiative will provide quality drinking water to nearly 1 million residents, address electricity shortages, and improve living conditions.
These investments underscore Kazakhstan’s commitment to advancing its industrial base with modern technologies, high-paying jobs, and enhanced economic competitiveness.
Photo credit: Prime Minister’s press service
