Kazakhstan: No FeSiAl investment by POSCO in Kazakhstan

Oct 29. SteelOrbis

Kazakhstan: No FeSiAl investment by POSCO in KazakhstanKazakhstan’s Ministry of Industry and New Technologies has announced that a ferrosilicon aluminum (FeSiAl) material development business will be erected by the patents proprietors of the Republic of Kazakhstan, Russian Federation, Ukraine and the Kyrgyz Republic.

According to ministry’s statement made to SteelOrbis, the exclusive seller of the FeSiAl material worldwide will be ThyssenKrupp Metallurgie GmbH based in Essen, Germany, with whom the respective contract is being prepared in its final stage.

The ministry said that a press release publicized by South Korean steel giant POSCO, announcing establishment of a joint venture between POSCO and Kasakh ZAMAN Group to build a FeSiAl manufacturing plant in Ekibastuz with 400,000 mt annual capacity was inaccurate.

The ministry’s statement read: “Zaman Group does not own the technology, did not have nor has any authority to negotiate the construction of the FeSiAl production plant, thus the company Zaman had misinformed the company POSCO. RSE National Center on Complex Processing of Mineral Resources Republic Kazakhstan does not have any agreement with POSCO with the aim to co-operate and to create a joint venture to manufacture the patented FeSiAl-alloy.”