Tokayev highlights Qarmet's turnaround following decisive measures
President Kassym-Jomart Tokayev highlighted the difficult situation Qarmet had faced until recently and the progress made in turning the company around, Qazinform News Agency reports via Akorda.
Tokayev said the decisive measures taken had helped turn the situation around, giving a strong boost to the development of the industrial complex. Through cost optimization and investment, Qarmet had overcome a period of multibillion-tenge losses and returned to profitability last year, recording a net profit on total revenue of 1.1 trillion tenge.
The President also highlighted the company's large-scale modernization program, which will receive $3.5 billion in investment by 2028. He emphasized that particular attention was being paid to introducing advanced technologies and digital solutions into production, while workplace organization and occupational safety were being kept under close supervision.
Qarmet is also setting an example of strong corporate social responsibility, having fully restored tram services in Temirtau at its own expense. Tokayev, who had just taken a ride on one of the trams, welcomed the initiative as a positive development for the city's residents.
The company has also launched the Bolashakka Zhol (Path to the Future) social program, aimed at providing training and employment opportunities for young specialists. The first phase will cover around 500 people from different regions of Kazakhstan.
The initiative is designed to address the country's growing demand for skilled personnel, particularly in blue-collar occupations. The Head of State expressed hope that other major enterprises would also join the program.
Earlier, President Tokayev visited the construction site of a new long product rolling complex at Metallurgical Plant Qarmet.
