Qarmet seeks to expand its business, opens representative office in Singapore

Qarmet has opened an office in Singapore as part of its strategy to enter international capital markets and expand its business in Asia, the company announced in a statement.

According to Qarmet, the modernization of its production facilities requires the adoption of a new business model and substantial investment.

«In this regard, the company announces the opening of a country office in Singapore, which marks a continuation of its international expansion policy and is the result of negotiations with potential partners from Southeast Asian countries,» the statement reads.

The new office will enable the company to respond more rapidly to changes in the Asian market and strengthen its position in the region, including Malaysia, Indonesia, Australia and Singapore. At the same time, Qarmet’s management remains in Kazakhstan, and claims regarding a transfer of control or sale of the company are untrue.

Despite challenges in the global metallurgy industry, Qarmet continues to grow. In the first quarter of 2025, steel production increased by 30% and shipments rose by 23%. The company attributes this growth to the modernization efforts and strategic direction of Qazaqstan Steel Group, which took over Qarmet from ArcelorMittal in 2023.