China to invest construction of chemical and metallurgical plant in Pavlodar
The Investment Fund of Chinese province of Xinjiang plans to invest the construction of a chemical and metallurgical plant in the special economic zone "Pavlodar".
According to Governor’s Office of Pavlodar region, the project of "TENIR-LOGISTIC" LLP for the construction of a complex for the production of titanium dioxide, silica and special steels was presented during the meeting of Governor of the region Bulat Bakauov and Managing Director of China Machinery Engineering Corporation, Representative of Xinjiang Fund Wang Liwen.
The Chinese company is ready to invest in the construction of the plant, buy equipment and start the production. According to manager Wang Liwen, the project is implemented within the framework of the Kazakh-Chinese intergovernmental agreement on industrialization and investment cooperation in Kazakhstan.
Governor's office assured that the design works in the SEZ "Pavlodar" will begin in July this year. The total investment will amount to 782 billion tenge (the 1st stage - 122.4 billion tenge). The industrial output is scheduled for 2020. 2,500 workplaces will be created.
The Governor of the region focused on the low-cost and environmentally friendly technology for alloy steels, titanium oxide, silicon and instructed the Acting Head of the Department of industrial and innovative development of the region, "SEZ Pavlodar" - to lend the full support for "TENIR Logistic" to realize the project.
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