Kazakhstan to launch 23 projects in metallurgical industry in 2010

Feb 25. SteelOrbis

Kazakhstan to launch 23 projects in metallurgical industry in 2010In 2010, within the framework of the rapid industrial-innovative development program, Kazakhstan will launch 23 projects in the domestic metallurgical industry, local media have reported citing Kazakh industry and trade minister Aset Issekeshev.

“The total cost of the projects will amount to Tenge 327 billion (about $2.15 billion),” Mr. Issekeshev said, adding that 9,700 new jobs will be created.

The minister also said that work is currently being carried out on all projects and that all of them will be completed on time. “The work will be considered completed only when the designed capacity of the projects will be reached and when the production of all types of products will be fully mastered,” said Issekeshev. Other details of the projects have not been disclosed.

On February 2010, the Kazakh government agreed the program for rapid industrial-innovative development of the country for 2010-2014, the main purpose of which is the competitive growth and promotion of national economic stability and the integration of the national economy into the global economy. Specifically, by 2014, Kazakhstan’s GDP is to increase by 50 percent from the 2008 levels, labor productivity in the manufacturing sector is to rise by 50 percent, increasing in some sectors of the economy by even 100 percent, and the energy intensity of GDP is to be reduced by ten percent, all compared to 2008.