Astana, 29 August 2024 (TDI): The Kazakh government has approved seventeen major projects worth 15 trillion tenge ($31.1 billion) to form high-value-added clusters, the Prime Minister’s press service said.
These initiatives are set to create more than 26,000 jobs, increase exports by 6 trillion tenge ($12.4 billion), and facilitate import substitution exceeding 1.5 trillion tenge (3.1 billion dollars).
The projects will focus on developing advanced manufacturing facilities, fostering partnerships with domestic suppliers and upskilling the local workforce.
These projects will provide 100% of the raw material base for steelmaking by processing hot briquetted iron, targeting a production volume of up to two million tons. Steel production is anticipated to increase from three to six million tons annually. Also, oil refining volumes are likely to rise from 18 to 24 million tons annually.
Establishing Facilities
The initiatives include setting up facilities capable of producing up to 1.25 million tons of polyethylene and 735,000 tons of polyethylene terephthalate per year. New production lines for urea products will also be developed, with a capacity of up to 577,000 tons annually.
Among the significant economic benefits is an increase in the localization of automobile production from 10% to 50%, with two plants manufacturing 160,000 cars annually.
These projects will also support tourism cluster development, promoting investment and business activities.
There will be an uptick in the export of high-value-added food products such as starch, glucose, gluten, and fructose.
