China-based Sinoma Cement Co and Kazakhstan’s Primus Capital plan to invest more than US$200m in the construction of a 1.3Mta cement plant in the Aktobe region of Kazakhstan, according to a press release by Kazakh Invest.
The parties discussed the key stages of project implementation during a meeting between Yerzhan Elekeev, chairman of Kazakh Invest’s Board, and Yakun Tong, president of Sinoma Cement. The plant will be Sinoma Cement’s first project in Kazakhstan and Central Asia using advanced technologies and quality standards, according to Kazakhstan Newsline.
The project has already been granted a licence for the development of chalk, clay and marl deposits in the Bayganinsky district. Geological exploration has confirmed the reserves and quality of raw materials.
The plant’s location will provide access to domestic and Russian markets.
Primus Capital is owned by Almaty’s former deputy mayor, Saparbek Tuyakbayev, and business man Nurlan Kurakbai.
