Chairman of the Administration Board of JSC “NC “KAZAKH INVEST” Yerzhan Yelekeyev met with the administration of the Chinese language firm CHN Power, throughout which the events mentioned implementing an funding venture for the development of a coal chemical plant in Kazakhstan.

Earlier this September, a technical delegation from CHN Power arrived in Kazakhstan to discover cooperation alternatives. In the course of the go to, the corporate’s delegation visited three coal fields to evaluate the potential of coal mining areas. Additional, in November this yr, on the sidelines of the Kazakhstan Spherical Desk on World Investments (KGIR-2024), the Ministry of Business and Building of the Republic of Kazakhstan, KAZAKH INVEST, and CHN Power signed an settlement on the implementation of a venture for the manufacturing of carbon chemical merchandise price $4 billion.

In the course of the assembly, Chinese language representatives shared the primary outcomes of joint work throughout the framework of the settlement reached. So, the corporate determined to open a consultant workplace in Astana.

“Given the significant coal reserves in Kazakhstan and the gradual abandonment of coal-fired energy generation, the coal industry needs a new development strategy. Its key element will be the transition to carbon chemistry, which will open up new opportunities for industry growth and transformation. Currently, the share of products produced from coal in Kazakhstan is only 3%. However, preliminary calculations show that the untapped potential of the industry reaches $25 billion. This indicates significant opportunities for investment and cooperation. I hope that with our support, your company will be able to identify priorities for the effective implementation of the first coal chemistry project in Kazakhstan, which will contribute to the accelerated development of the industry and will allow the export of coal chemical products to China, Central Asia, and Europe,” mentioned Y. Yelekeyev.

Representatives of CHN Power additionally expressed their willingness to contemplate new areas for cooperation, together with the development of renewable power stations and fuel chemical complexes, as quickly because the implementation of the coal chemical venture reaches a extra energetic section. On the finish of the assembly, the events agreed to proceed energetic work on the venture’s implementation and additional strengthen funding cooperation.

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The corporate is a pioneer chief within the growth of the coal chemical trade in China and one of many largest corporations on the planet for the extraction and processing of coal, in addition to the manufacturing of thermal and wind power. CHN Power’s abroad belongings are in South Africa, Australia, Indonesia, Greece and Germany. The corporate operates 97 coal mines with an annual coal manufacturing capability of 685 million tons. CHN Power additionally has 28 coal liquefaction crops, processing uncooked supplies into liquid fuels with a manufacturing quantity of 5.26 million tons per yr and into olefins with a manufacturing quantity of three.93 million tons yearly.