In a move towards economic modernization, a pivotal meeting of the State Commission on Economic Modernization was convened under the leadership of the Prime Minister of the Republic of Kazakhstan Alikhan Smailov. The focal point of the discussions centered on the establishment of a state-of-the-art ferroalloy production plant in the city of Ekibastuz, Pavlodar region, official information source of the Prime Minister of the Republic of Kazakhstan reported.
The ambitious project, boasting a production capacity of 80,000 tons of ferrosilicon annually, is anticipated to generate over 520 permanent job opportunities for the local populace. With an investment outlay exceeding KZT 113bn ($244mn), the venture is poised to elevate Kazakhstan's standing in the global market, particularly in terms of exports to Japan, South Korea, the USA, Turkey, and various European countries. The plant is scheduled to commence operations in 2025.
This strategic initiative aligns with Kazakhstan's broader economic goals, fostering growth, job creation, and bolstering the nation's presence in key international markets. The ferroalloy production plant represents not only a substantial investment in the Pavlodar region but also a step towards diversifying the country's industrial portfolio.
In addition to the ferroalloy plant, the State Commission deliberated on crucial matters related to the ongoing development of oil fields. Discussions spanned topics such as enhancing production efficiency, job creation and ensuring that service companies have access to requisite work volumes.
Furthermore, the meeting saw comprehensive discussions on the Comprehensive Privatization Plan for 2021-2025. Updates to criteria for the inclusion and exclusion of assets for sale were scrutinized, along with proposals for the transfer of select assets into a competitive environment. A notable revelation from the discussions was the planned transition of Qazaq Air into a competitive environment in 2024.
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