Chinese firm weighs $12 billion aluminum investment in Kazakhstan

Chinese East Hope Group — one of the world’s largest aluminum producers — could invest $12.6 billion in bauxite mining and aluminum production in Kazakhstan, according to Kazakhstan’s Ministry of Industry and Construction.

«Minister of Industry and Construction Yersayin Nagaspayev held talks with East Hope Group Director for Strategic Investments Chen Lei…The company is conducting geological exploration at several blocks in the Aktobe and Kostanay regions. Total investment is estimated at $12.6 billion,» the statement read.

At the meeting, the parties discussed the implementation of the investment project to establish a full-cycle aluminum production chain in Kazakhstan, from bauxite mining to primary aluminum production.

As part of the project, East Hope Group plans to build a 1-gigawatt coal-fired power plant in the Kostanay region. In addition, the Chinese investor is considering potential renewable energy projects.

At the end of the meeting, the parties reaffirmed their interest in continuing project implementation and in developing investment cooperation.