Kazakhstan's portfolio of major industrial projects hits 10.2 trillion tenge
Kazakhstan has formed a portfolio of major industrial projects worth about 10.2 trillion tenge that are expected to create more than 20,000 jobs. These initiatives aim to reduce dependence on raw material fluctuations and strengthen real industrial production, Qazinform News Agency reports citing the Government’s press service.
The new investment cycle focuses on projects that generate added value and stable employment, rather than raw materials. Work has been intensified to attract foreign investors into processing, metallurgy, chemicals, and materials production.
The portfolio of 20 major projects with foreign participation worth 5.7 trillion tenge was formed that are expected to generate over 11,000 jobs.
The most projects up to five are to be launched in Zhambyl region. Four projects worth 1.02 trillion tenge are to be developed in Pavlodar region.
Zhambyl region also leads in volume of investments up to 1.47 trillion tenge, followed by Pavlodar region with 1.02 trillion tenge and and Kostanay region with one major project worth 920 billion tenge.
By sectors the most investments are channeled in non-ferrous metallurgy — 1.95 trillion tenge (3 projects), ferrous metallurgy — 1.76 trillion tenge (6 projects), and chemical industry — 1.71 trillion tenge (6 projects) and projects in construction materials, woodworking, and mechanical engineering.
Earlier reports noted that more than 30,000 new jobs will be created nationwide through the launch of investment projects.