Minister of Construction reveals what enterprises will boost the metallurgical industry in Kazakhstan

Correspondent for Business News department
Минпром рассказал за счет каких предприятий планирует обеспечить рост металлургии
The minister has revealed what companies are expected to boost growth in the metallurgical industry / Shutterstock, photo editor Denis Andreev

According to Minister of Industry and Construction Kanat Sharlapayev, the metallurgical industry in Kazakhstan rose by 4.3% in the first quarter of 2024. The ministry is now expecting that companies such as Qarmet, KSP Steel, Shymkent Temir, Ferrum Vtor, Kazferrostal and Forever Flourishing (Middle Asia) Pty LTD will support the industry’s further growth.

The combined amount of products produced by steel companies is expected to grow from 3.9 million tons to 4 million tons, flat-rolled products from 2.5 million to 2.6 million tons and cast iron from 2.9 million to 3 million (by Qarmet).

The agency predicts an increase in copper production from 419,000 tons to 452,000 tons at the expense of Kazzinc, which is going to beef up its production by 14.3% to 48,000 tons of copper. At the same time, Kazakhmys Corporation will boost its copper output from 214,000 tons to 244,000 tons (by 14%), while KazMinerals will reach 121,000 tons (percentage of increase unavailable).

Zinc production is expected to grow by 1.8% to 285,000 tons and lead by 2% to 97,000 tons (by Kazzinc). The aluminum output is expected to increase from 261,000 tons to 265,000 tons (+1%) at the expense of the Kazakhstan Electrolysis Plant.

Since the government wants to double copper output from 450,000 tons to one million tons by 2029, it’s betting on a new copper plant in the Abay region. The ministry believes that once the project is implemented, the country will be able to process all the copper concentrate it exports. Steel production in Kazakhstan is expected to amount to ten million tons per year thanks to the expansion project at Qarmet. At the same time, all new projects associated with the production of special-purpose steel will be implemented by Kazakhsteel, a manufacturing company with a capacity of 1.2 million tons. In addition, ERG in conjunction with BAOWU Steel is planning to launch deep iron ore processing in the town of Rudny. The start of hot briquetted iron production will let the country close 100% of steel plants demand for raw materials. In 2023, Kazakhstani exports of processed products amounted to $25.3 billion, compared to $24.1 billion over the period from January to November 2022. Last year, the country also boosted its export of clothing (fourfold), platting products (by 2.7 times), leather products (by 2.4 times), machinery and equipment (by 1.9 times) and rubber and plastic goods (by 1.7 times).

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