Chinese businessmen to invest in Karaganda coal processing

At a meeting with the Mayor of Karaganda region Nurmukhambet Abdibekov the parties discussed a project for integrated processing of coal from "Kuznetskiy" surface mine. "The total sum of investment equals to USD 2 billion. The plant will be constructed within two stages", said the deputy director general of Tsinghua corporation Lang Eng. "We made the analysis of the coal and scheduled to carry out in-depth marketing research", said the representative of the corporation. Financing scheme has not been determined yet. It is expected that the plant will produce gasoline, diesel fuel, and a variety of chemical products. The round table also discussed local population's employment in the project and the use of domestic materials. According N.Abdibekov, the parties will sign a protocol decision. Recall that in September 2013 during the official visit of the Chinese President Xi Jinping to Kazakhstan a number of bilateral cooperation documents were signed. The two states inked a memorandum of understanding in the field of project implementation for complex processing of Kuznetskiy coal. Tsinghua Corporation presented the draft project to the President of Kazakhstan Nursultan Nazarbayev during his visit to China in May the current year.