May 15, 2017
Today, during the visit of the President of Kazakhstan Nursultan Nazarbayev, representatives of Massalsky MPP LLP have signed two agreements on construction of a mining and metallurgical facility. Several key aspects, including construction of the mining and metallurgical facility and its further financing, were agreed In Beijing.
Thus, China National Technical Import and Export Corporation (CNTIC) expressed its commitment to contract construction of Massalsky metallurgical facility in Akmola region.
Reference. The total operational C1 and C2 ore reserves of Massalsky Project are 729 million tons.
We want to produce high quality steel as now one and a half million tons of steel annually used in the country is fully imported. Based on the steel manufacturing standards, the plant we have is rather huge — annual steel output is 940 thousand tons. Today, it is a new trend, because enterprises need to be flexible. They should be readily adaptable to needs of businesses and industries need, CEO of Tau-Ken Samruk NMC JSC Mazhit Turmagambetov said
In the meantime, the company has come to general agreement on project financing with Exim Bank, China. We should recall that the development of this plant is a strategic task that will ensure some 4,000 jobs for the construction period and 3,000 jobs for the period of facility operation, and will enable import substitution. The result of this work will contribute to the income generating base for further geological explorations and reinvestment into growth projects.