Construction of a metallurgical plant in Kazakhstan is frozen

​Low prices for metal became a reason of the shutdown of construction of a metallurgical plant in the South-Kazakhstan region, the chairman of “National agency for export and investment “KAZNEX INVEST”, B. Zhanguzarov, said.

There was a project of production of metallurgical products of up to 1 mln tons in the South-Kazakhstan region. The initiator held a large volume of works on the preparation of this project, held negotiations with a contractor from China, with partners. But due to various reasons, including unfavorable environment of metal prices, this project is shut down, he said.

He hoped that the situation would improve. There is a resource base and suitable infrastructure in the region, personnel. We hope soon this project will be renewed, he said.

The value of the project was assessed at $900 mln.