Chinese Firms Increase Presence in Kazakhstan
Chairman of Kazakh Invest National Company Explores Investment Opportunities in China
During his recent working visit to China on Oct. 22, Chairman of Kazakh Invest National Company Yerzhan Yelekeyev met with representatives of large Chinese companies to enhance investment cooperation, as reported by the Kazakh Invest’s press service.
One of the key discussions was with Fufeng Group Chairman Li Xuechun regarding the progress of a project to establish a vertically integrated industrial park for deep corn processing in Kazakhstan. This project, with a production capacity of 500,000 tons annually and 1,000 job opportunities, will include various facilities such as a starch production plant, an amino acid fermentation plant, a coal-fired thermal power plant, and a wastewater treatment facility.
Additionally, Yelekeyev engaged in talks with Dr. Liu Guoyue, the chairman of CHN Energy, to explore a potential coal chemistry project in Kazakhstan, requiring a minimum investment of $4 billion. Kazakh Invest had previously facilitated a visit of the company’s technical team to coal deposits in Kazakhstan for material analysis.
Furthermore, discussions with Jiang Yi, the chairman of China Huadian Corporation, revolved around a $190 million combined-cycle gas plant project in the Mangystau Region, with construction scheduled to commence later this year and completion anticipated by 2027. The company is also involved in renewable energy projects and considering participation in modernizing existing power plants in Kazakhstan.
Other Chinese firms, including Wanlin Group, Sichuan Lomon Corporation, and Dalian Hesheng Holdings, are also exploring investment opportunities in Kazakhstan. Wanlin Group Founder Li Yantao discussed plans to establish a factory for dehydrated onions, while the other companies are considering wheat processing projects in various regions of Kazakhstan, potentially exceeding $2 billion in total investments.
Chairman Xiong Xiong of Shanghai Shanyuhai Investment Group provided updates on the progress of building a $200 million mining and processing plant in the Almaty Region, set to create 500 jobs by 2025.
Moreover, talks with Beijing Jianlong Heavy Industry Group focused on constructing a steel production cluster, with expertise in producing high-quality steel for the automotive and electronic industries. Beiqi Foton Motor expressed interest in a commercial vehicle assembly plant, drawing on successful experiences in assembling cars in Kazakhstan.
Overall, the meetings between Yelekeyev and the representatives of these Chinese companies highlight the growing interest and potential for significant investments in various sectors in Kazakhstan, showcasing the strong partnership between the two countries.
