Kazakhstan likely to revive its once famous confectionery plant
Kazakhstan is likely to revive its once famous confectionery plant “Konfety Karagandy” (Candies of Karaganda) in the nearest future. The plant was closed almost 10 years ago, Kazinform News Agency reports.
The project is estimated at around $200 million, said governor of the region Yermaganbet Bulekpayev at a meeting with mass media.
According to him, the confectionery plant will be built at a new site.
“We have talked today to the shareholders. Currently, we are searching for a land plot spanning over 20 hectares, near Prishakhtinsk. We expect that these issues will be finalized within a month. Own funds and loan proceeds of a shareholder will be invested in the project,” he said.
Austrian and Swiss companies are expected to join the project. The shareholders intend to focus on export, primarily, to the UAE, Bulekpayev noted.
“The shareholders plan to enter both domestic and foreign markets, namely to the Arab countries, because there is demand for the product. The issue will be explored in details,” he added.
Earlier, it was reported that butter production increased by 4.7% in Kazakhstan.