Kazakhstan and China Forge $2.5 Billion Investment Agreements

Beijing, The Gulf Observer: Prime Minister Olzhas Bektenov, on a working visit to the People’s Republic of China, has participated in the Kazakh-Chinese Investment Roundtable, where eight commercial agreements totaling $2.5 billion were signed. The agreements, established between prominent Kazakh and Chinese companies, underscore a commitment to deepening economic ties across key sectors, according to a statement from the Kazakh Government.

Among the agreements signed:

1. Intelligent Systems Cooperation: LLP Samruk-Kazyna Invest, JSC QAZAQGAZ AIMAQ, and Goldcard Smart Group Co., Ltd will implement intelligent gas systems valued at $8 million. The project includes a small-scale assembly of gasometers in Alatau Special Economic Zone in Almaty.
2. Mechanized Mining Complexes: JSC Qarmet and Zhengzhou Coal Mining Machinery Group signed a $70 million deal for mechanized coal mining equipment, enhancing coal production capabilities in Kazakhstan.
3. Investment Cooperation Memorandum: A $552 million memorandum of understanding was established between Kazakhstan’s Ministry of National Economy, China’s Silk Road Fund Co. Ltd, and the Kazakhstan Investment Development Fund (KIDF) Management Company, setting the foundation for long-term investment collaboration.
4. Ductile Iron Pipe Production: JSC Qarmet and Xinxing Ductile Iron Pipes Co., LTD agreed to construct a plant in Kazakhstan, with an annual production capacity of 200,000 tons and a project value of $161 million.
5. Mining and Metallurgical Sector Partnership: JSC Qarmet and China Metallurgical Group Corporation will engage in a $1 billion cooperation agreement focused on mining and metallurgical industry expansion.
6. Coke-Chemical Modernization: JSC Qarmet and ACRE Coking & Refractory Engineering Consulting Corporation agreed on a $649 million modernization project to advance coke-chemical production and petrochemistry.
7. Mineral Insulation Production: In a $30 million deal, JSC Qarmet and Nanjing Fiberglass Research & Design will build a mineral insulators factory in Temirtau, expected to produce 100,000 tons annually and create 200 jobs.
8. Vehicle Assembly and Distribution: LLP Saran Machinery and Sinotruk International agreed on a $70 million package to establish vehicle assembly operations in Saran, which will create approximately 1,000 jobs.

During his visit to Shanghai, Prime Minister Bektenov also toured Zhangjiang Robotics Valley, a technology center hosting over 80 robotics firms. He directed the Ministry of Digital Development, Innovations, and Aerospace Industry to explore collaboration with Robotics Valley to advance Kazakhstan’s robotics and digital technology sectors.