Approval Granted at Investment Headquarters' Meeting for New Industrial Ventures
Investment Promotion Council Approves Major Projects in Kazakhstan
The Investment Promotion Council in Kazakhstan recently held a meeting on January 14 to review and approve investment agreements for modernizing key enterprises, as well as new projects in the water pipeline and wood processing sectors.
One of the key projects approved was the modernization of the Qarmet metallurgical plant. This project was highlighted during a seminar for entrepreneurs held by Kazakh Invest in the North Kazakhstan region. The plant is aimed at metallurgical production, with the Qarmet plant planning to allocate an additional $3.5 billion for investment projects by the end of 2028, as part of its long-term strategy. The region sees significant industrial development, with projects such as CLAAS assembly and wood processing plants, suggesting a supportive ecosystem for industrial projects.
Another approved agreement involves Ultradecor Trading Kazakhstan LLP, although specific details about this company are not directly provided. However, Kazakhstan's active engagement with investors and new companies indicates a favorable environment where companies like Ultradecor Trading Kazakhstan LLP operate and receive state support.
The water pipeline project in the Turkistan Region was also approved. This project aims to provide quality drinking water to nearly 1 million residents of the region and cover the electricity deficit. The total investment in the water pipeline project is around 190 billion tenge (US$360 million). The implementation of this project will bring nearly 82 billion tenge (US$155.3 million) of investments to the economy. The project also aims to improve sanitary and hygienic conditions in the region.
The meeting was chaired by Kazakh Deputy Prime Minister Roman Sklyar and the participants approved the conclusion of an investment agreement with Qarmet metallurgical plant, as well as the construction of a plant for the production of oriented strand boards and laminated wood chipboards by Ultradecor Trading Kazakhstan LLP in the North Kazakhstan Region.
These new initiatives demonstrate further development of Kazakhstan’s industrial potential, with a focus on modern technologies, high-paying jobs, and increasing the country’s economic competitiveness. The water pipeline project is aimed at improving the overall quality of life of the local population in the Turkistan Region. The modernization of the Qarmet plant is planned to be an important step in the socio-economic development of the region.
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