ENRC development program in Kazakhstan estimated to be worth USD 7 bln: Felix Vulis
19:11, 20 January 2011
KARAGANDA. January 20. KAZINFORM /Valentina Yelizarova/ The Eurasian Natural Resources Corporation (ENRC) estimated its development program in Kazakhstan worth USD 7 bln. Chief Executive Officer of ENRC Kazakhstan Felix Vulis has made it public today at a press conference after signing a memo on cooperation in social projects development with Akimat of Karaganda region.
According to him, one of the key projects of the ENRC is a construction of a ferroalloy plant in Aktobe region with the capacity of 440 thousand tons totaling USD 750 mln.
"We plan to expand operational capacities of the Sokolovsko-Sarbaiskoye Mining Production Association by investing about USD 2 bln in it", F.Vilus said.
He also told about the plans of the company on production development in Karaganda region. "Today we consider the feasibility study of Zhairem project providing development of polymetallic ore. In case the board of directors approves its introduction, the investments will be up to USD 2 bln", F.Vilus noted.
Besides, the ENRC set a task to increase coal mining on Shubarkol open cast coal mine.