Tokayev launches corn deep processing plant in Zhambyl region
On the sidelines of the Kazakhstan-China Investment Forum in Almaty, President Tokayev launched, via a video conference, the construction of a corn deep processing plant in the Zhambyl region, Qazinform News Agency learned from Akorda.
The project is implemented by China’s Fufeng Group, one of the world's leading bio-fermentation companies. First-stage investment amounted to $350 million, and the plant’s annual capacity is projected at 500,000 tons of corn.
The second stage is aimed at boosting the plant’s capacity to 3 million tons per year and expanding the range of products. The total amount of investment at this stage is expected to be $1.15 billion.
The creation of the industrial park will create up to 1,500 jobs and form a full production cycle for grain deep processing.
The project’s implementation will enable to ensure deep processing of agricultural products, expansion of industrial cooperation with China, and strengthening the country’s agricultural potential.
Earlier, it was reported that President Tokayev is participating in the Kazakhstan-China Investment Forum in Almaty.
The President proposed holding the Kazakhstan-China Investment Forum annually, positioning it as a permanent platform for direct engagement between the business communities of the two countries.
As part of the forum, the Head of State initiated a new Kazakhstan-China program, “Common History Destiny. Designed and Made in Both China and Kazakhstan."
It was also reported that Kazakhstan and China signed 10 agreements on new projects during the forum
