China’s Jianlong is considering investments in steel production in Kazakhstan

Chinese steelmaker Jianlong is considering setting up a steel plant in Kazakhstan. This is stated in the report of the state investment company Kazakh Invest.

During a meeting of the parties held in early September, Jianlong representatives said they were exploring investment options for the construction of a new steel and steel products plant in Kazakhstan. They did not specify the location in question.

Azamat Kozhanov, managing director of Kazakh Invest, said that the country is implementing a new approach to attracting investment by identifying priority industries based on Kazakhstan’s competitive advantages, such as steel production.

‘We plan to attract investors with ready-made investment proposals in these sectors. In this regard, we are ready to provide the necessary assistance in finding potential projects for steel production and further processing of metal products,’ he said.

According to Kazakh Invest, Jianlong Group is one of the largest steel producers in China with a complete industrial chain. The group currently operates 14 steel mills in the country and abroad with a combined capacity of about 42 million tonnes of steel. The company is also engaged in logistics, trading, vanadium and titanium production, and equity investments.

As GMK Center reported earlier, Asia Metal Prof, the largest steel producer in Uzbekistan, plans to build a $106.9m plant in Kazakhstan. The company is considering building the facility in the Taraz industrial zone in the south of the country. The plant will produce square billets and polymer-coated galvanised steel sheets.