More than 80 million Euros to be invested in the Western Kazakhstan

One of the largest German foreign companies Salzgitter Mannesmann International GmbH and French Vallourec S.A. made the preliminary decision to invest in the construction of plants on the territory of the Western Kazakhstan, JSC KaznexInvest press service reports.

It is supposed that total investment will exceed 80 million Euros. These arrangements were reached as a result of National export agency and KaznexInvest investments negotiations with heads of both companies within an investment forum “Creation of new productions in the Western Kazakhstan” which took place in Aktau from September 24 to September 26.

In particular, the German company is interested in construction Atyrau plant on pipes isolation. Thus, the total amount of investments will reach 50 million Euros.

Cost of the Vallourec S.A planned project on creation the production of premium class thread pipes connections in Aktau will be 35 million euros.

“As a whole, West Kazakhstan region needs the specialized investment program and strategy of attraction of the investments focused on features of the local market,” the regional director of KaznexInvest Markhabbat Balgabay said.

The oil and gas branch developed in this region, according to Balgabay, needs development of adjacent productions for its service – food and construction branches, metallurgy, mechanical engineering, chemistry.

“Thus implementation of investment projects will allow to raise the Kazakhstan content in oil and gas branch and to adjust production according to the high international standards, and also will create additional workplaces,” the regional director of KaznexInvest told.

http://bnews.kz