China Kingho Group to build coal processing plant in Karaganda region

The plant will be constructed in Karaganda region, said chairman of the board of the China Kingho Energy Group Huo Qinghua after the meeting with Kazakhstan's President Nursultan Nazarbayev. "Today we have met with President of Kazakhstan Nursultan Nazarbayev and ministers. At the sitting, I briefly reported on our project for complex processing of coal. This project will play an active role in the development of industrialization in Kazakhstan. It will stimulate economic growth and create new jobs," said Mr. Qinghua after the meeting with President Nazarbayev in Diaoyutai Guest House. According to his words, the value of the investment portfolio is estimated at $ 2.6 billion. The project will be implemented in 2017-2020. China Kingho Energy Group is China's largest private enterprise for extraction, enrichment, coking of coal and coal chemistry. In addition, it is also positioned as an integrated company engaged in metallurgy, building materials, chemical industry, logistics and hotel business. It is expected that the plant will produce gasoline, diesel fuel, electricity and a variety of chemical products with high added value. In addition, the project will contribute to the enhancement of Kazakhstan's science and implementation of innovative developments in domestic coal and chemical industry. Recall that Nursultan Nazarbayev's state visit to China will last until September 3. On Thursday, the President of Kazakhstan will take part in the parade dedicated to the 70th anniversary of the victory of the Chinese People's War of Resistance Against Japanese Aggression.