Chevron Fund invests $23.5 million in the construction of a ferroalloy plant in Kazakhstan

Chevron Direct Investment Fund (CDIF) is investing $23.5 million in the construction of a ferroalloy plant in Ekibastuz (Kazakhstan). This was reported by Inbusiness.kz

The plant is a project of the Kazakh private company Mineral Product International (MPI). The plant is expected to produce about 80,000 tons of ferrosilicon (FeSi-75) per year, and the technology also allows for the production of ferromanganese and silicomanganese. More than 500 jobs will be created here. The launch of the first stage of production is scheduled for 2026.

According to MPI, the project is being implemented in partnership with South Korean technology partner SAC Co. The plant will be equipped with eight electric furnaces, each with a capacity of 33 MVA. The products are intended for export to markets such as South Korea, Japan, North America, and the EU.

It is noted that the project fully meets the CDIF selection criteria and has strategic potential for diversifying the regional economy. The fund aims to promote Kazakhstan’s economic growth by investing in commercially viable and promising enterprises in various industries.

As a reminder, in November last year, a new ferroalloy production plant, EkibastuzFerroAlloys, officially began operations in Kazakhstan. The enterprise is designed to produce 240,000 tons of high-quality ferrosilicon per year. Investments in the project are estimated at approximately 92 billion tenge ($177 million). The plant is almost entirely export-oriented, with a localization rate of 96%.