Uzbek company plans to build a steel mill in Kazakhstan

The cost of the project will be $106.9 million

Asia Metal Prof, the largest steel producer in Uzbekistan, plans to build a $106.9 million plant in Kazakhstan. This is reported by SteelRadar.

The company is considering building a plant in the Taraz industrial zone in the south of the country.

The company will produce square billets and thin-gauge galvanized steel with a polymer coating.

Negotiations between investors and local authorities have already begun to discuss the terms of the project, including the availability of energy, engineering and transport infrastructure. The regional authorities assured of their support and emphasized that the construction of the plant must comply with environmental standards.

The land plot for the construction has already been allocated and secured by the relevant documents. Work is currently underway to prepare the estimate and design documentation.

The Taraz Industrial Zone is located in the Zhambyl region of Kazakhstan, in the cities of Karatau and Taraz. According to the Taraz Social and Entrepreneurial Corporation, 9 projects with a total investment of 74.6 billion tenge have been registered in the territory.

As a reminder, products in 2024. This year, steel production is expected to grow by 13% compared to 2023, to 3.3 million tons, and iron ore concentrate production by 10%, to 10 million tons. At the same time, coal production is expected to decline by 2%.

As GMK Center reported earlier, in January-May 2024, Kazakhstan increased steel production by 3.6% year-on-year – to 1.68 million tons. Flat products output reached 1.08 million tons, up 5.8% y/y.