According to Kazakhstan’s Ministry of Trade, Chinese company Fujian Hengwang Investment plans to build a large steel plant in the country. The announcement followed a visit to China by Minister of Trade and Integration Arman Shakkaliyev.
The company is ready to invest about $1.2 billion in the project, with a planned capacity of up to 3 million tons of steel per year. Once fully operational, the plant is expected to create 2,500 jobs and supply steel to both domestic and international markets.
In May 2024, some media outlets reported that the Shymkent administration signed a memorandum with Fujian Hengwang Investment to construct a steel plant in the city with a capacity of up to 5 million tons and an estimated cost of $1.75 billion. The project was expected to be completed over five years in three stages.
However, in February 2025, it was announced that a plant with a capacity of 3 million tons would instead be built in the Zhambyl region by 2029. In the first stage, the plant is expected to produce 1 million tons of steel next year, with an investment of $336.8 million. The project will reach full capacity in 2029, requiring an additional $657.8 million in investment. It also includes the construction of a 350-megawatt gas turbine power plant.
Steel production will be based on Kazakhstani raw materials, including natural gas, iron ore from the Karaganda, Kostanay and Ulytau regions, as well as lime. The plant will manufacture a range of products, including wire rod, rebar, strip steel for pipe production, and angle and section steel.
Fujian Hengwang Investment is part of Jiangsu Coastal Steel Group Co., Ltd., which has extensive experience in steel production and international trade.
During the visit to China, Shakkaliyev also discussed potential projects with several companies, including a spinning mill with Jinyuan Textile Company; lifting equipment manufacturing and engineering centers with Weihua Heavy Machinery; transformer and electrical product manufacturing with Shenda Electric; and synthetic fiber and chemical processing projects with Jinlun Hi-tech Fiber.
